So to start the answer to Does Etoro Take American Express….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply don’t want to decide what you really want to invest and you want somebody to do it for you there’s just a number of ways that that can occur the firstly you can hire an investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are developed again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios too now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you really get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row buy these options since you think is the right ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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famous for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included actually important you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge websites then might not charge you for really buying and selling etfs or funds specific commodities individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you in fact begin purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission fees are free nevertheless there are a number of other charges the first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those choices that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state give me us dollars rather you need to pay their costs now the great feature of though when you’ve transformed your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great utilizing that part of their site won’t certainly restrict you in any way however we need to understand 2 other costs the first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is basically the difference that becomes part of the investment platform between the buy cost and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you want to sell or purchase as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread fees it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit money now the last task is called an
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over night cost now this is actually crucial if you’re really utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy sell deal in the same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which indicates you’re actually buying the exact property instead of using leverage anyway you will not get hit with these charges however these charges are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you enter into the aid area this isn’t the overnight fees details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just applies as i said to cfds there are some added fees obviously depending upon what you are investing in as well this is on your own so keep that in mind however complete charges are totally within their aid info fine and we discussed in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of really utilizing these copy functions they do not have any extra charges on top of the normal fees that
are there now what you require to keep in mind though is these possibly handled by other individuals totally or in some cases have developed portfolios you have actually got a real individual doing the management you have to make sure you pick the person that’s right for you similar to any kind of work this is your financial possessions so we absolutely need to ensure it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio imitate as if you are using your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a fantastic alternative for you again to check the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to type of safe play with it certainly you might have lost out on gains and losses throughout that time of course if you had invested your real money it permits you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply means am i alright with potentially losing a great quantity of this financial investment or gaining as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey obviously people do make money too and i’ve got videos everything about how you can make certain you’re one of individuals to really earn money but in this situation make sure you research study your danger level would you be fine offering your cash to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually use this too truly quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to in fact look for somebody that you fancy really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has actually satisfied that criteria and it does provide you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s also got a bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Does Etoro Take American Express.
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