So to start the answer to Does Etoro Trade Dogecoin….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you really wish to invest and you want someone to do it for you there’s just a number of manner ins which that can occur the to start with you can hire an investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds particular funds are produced again with an account manager 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 remember this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you really get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has actually stated they have actually made revenue 14 months in a row buy these options due to the fact that you believe is the best ones for you and that being stated let’s dive straight in [Music] The 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 aspect that is probably.
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popular for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 cost websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know before you really start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with fees really important to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission charges are free however there are a number of other charges the first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really providing you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state give me us dollars instead you need to pay their fees now the great thing about though when you have actually transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to know two other costs the very first being what’s called spread fees fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy cost and the price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really indicates that when you wish to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing price of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you state fine well why does that occur it just 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 want to sell it which is how they make a little bit of money on those spread costs it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last feat is called an
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overnight cost now this is really crucial if you’re in fact using cfds yourself also an overnight fee is when you’re refraining from doing that buy sell deal in the very same day okay there’s then an over night cost charged and even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which suggests you’re really buying the specific asset rather than utilizing take advantage of anyhow you will not get hit with these fees but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you enter into the assistance section this isn’t the over night costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some service charges naturally depending upon what you are investing in also this is on your own so keep that in mind however complete costs are completely within their assistance information okay and we discussed as well as free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really utilizing these copy works they don’t have any extra costs on top of the regular costs that
exist now what you require to remember though is these possibly handled by other individuals entirely or sometimes have actually produced portfolios you’ve got a real individual doing the management you have to make certain you choose the person that’s right for you just like any line of work this is your financial possessions so we absolutely need to ensure it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are using your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is an excellent option for you once again to test the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it clearly you may have lost out on gains and losses during that time naturally if you had actually invested your real cash it enables you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i alright with possibly losing a great quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 people will lose cash however that equally implies they’ll lose at some time in their journey certainly individuals do make money too and i’ve got videos everything about how you can make sure you’re one of individuals to really generate income however in this scenario make certain you research your threat level would you be okay giving your cash to someone else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re somebody who isn’t wishing to be that risky do not choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact utilize 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 really look for somebody that you fancy really following so let’s see possibly we desire somebody from united kingdom um who buys 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 everyone who has satisfied that criteria and it does provide you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions 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 chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to verify are you all right with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine really that i buy too which is excellent so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production companies as that. Does Etoro Trade Dogecoin.
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