So to start the answer to Error 60054 Etoro….Questions that i hear from 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 desire someone to do it for you there’s just a number of manner ins which that can happen the first of all you can work with an investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are created once 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 as well now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you really get used to the structure of the website and then 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 danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they have actually made earnings 14 months in a row buy these choices because you believe is the right ones for you which being stated 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 belongs to social trading which is one aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually important you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for really buying and selling etfs or funds individual products specific 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 type of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really begin investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs really essential to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission costs are free however there are a number of other fees the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you sell your products 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in 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 anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 offer me us dollars rather you have to pay their charges now the great feature of though when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site will not certainly limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is basically the distinction that is part of the investment platform between the buy rate and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually indicates that when you wish to buy or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state alright well why does that occur it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread out fees it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last feat is called an
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over night cost now this is really crucial if you’re actually using cfds yourself also an overnight fee is when you’re not doing that buy sell transaction in the same day all right there’s then an overnight charge charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which suggests you’re in fact buying the specific possession rather than using take advantage of anyhow you will not get hit with these charges however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s state if you go into the assistance section this isn’t the over night costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some service charges naturally depending on what you are buying too this is on your own so keep that in mind however full fees are entirely within their assistance info all right and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of in fact utilizing these copy functions they do not have any extra costs on top of the typical charges that
are there now what you need to bear in mind though is these potentially managed by other people totally or in some cases have developed portfolios you have actually got a genuine individual doing the management you have to ensure you choose the person that’s right for you similar to any kind of work this is your financial possessions so we definitely require to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is a terrific alternative for you once again to evaluate the theories all right you may want to buy tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it undoubtedly you may have missed out on gains and losses during that time obviously if you had invested your real money it allows you to build confidence comprehend 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 bear in mind before you pick 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 mean by that undoubtedly 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 means am i fine with potentially losing a good quantity of this financial investment or acquiring 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 figure 75 individuals will lose money however that equally implies they’ll lose at some point in their journey undoubtedly individuals do earn money too and i have actually got videos everything about how you can make certain you are among the people to really earn money however in this scenario make certain you research study your danger level would you be okay giving your cash to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too truly easily over here you can copy individuals now it will provide you a lot of options and you can utilize the system to actually search for someone that you expensive really following so let’s see maybe we want someone from unified kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has actually satisfied that requirements and it does give you a threat factor also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have rather high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is good so in fact for me understanding what i like to invest in my private 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 also got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Error 60054 Etoro.
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