So to start the answer to Is It Safe To Give Etoro My Social Security Number….Questions that i hear from brand-new investors what if you’re brand new to investing you merely do not want to choose what you really wish to invest and you desire somebody to do it for you there’s only a number of ways that that can take place the firstly you can work with a financial investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are developed 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 also now if you’re brand new to a total please keep in mind this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that option also so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row invest in these options because you believe is the right ones for you and that being stated let’s dive straight 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 aspect that is probably.
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well-known for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for example 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 charges included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for actually buying and selling etfs or funds private products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you actually start investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really important to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a great deal of platforms certainly 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 when every six months you understand depends entirely how you’re investing however that is a cost to remember the second charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually giving 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 have to pay their costs now the excellent thing about though when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent using that part of their site won’t certainly restrict you in any way however we have to know two other charges the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform between the buy price and the price alright it’s their premium on doing both those two 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 wish to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present price of tesla is the worth of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread costs it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit money now the last feat is called an
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over night fee now this is really essential if you’re actually utilizing cfds yourself also an overnight charge is when you’re not doing that buy offer transaction in the exact same day alright there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re really buying the specific property instead of utilizing utilize anyway you will not get hit with these fees but these fees are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the help area this isn’t the over night charges 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 over night or you’re doing over weekends and that only applies as i stated to cfds there are some service charges naturally depending upon what you are purchasing as well this is on your own so keep that in mind but complete costs are completely within their aid info alright and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical 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 various methods of in fact using these copy works they do not have any extra costs on top of the normal costs that
are there now what you require to remember though is these potentially managed by other individuals totally or in some cases have created portfolios you’ve got a genuine person doing the management you have to ensure you select the individual that’s right for you much like any kind of work this is your financial assets so we absolutely require to make sure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine 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 won’t need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money perhaps this is a fantastic option for you again to test the theories fine you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it undoubtedly you might have lost out on gains and losses during that time of course if you had actually invested your genuine money it enables you to build confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real 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 prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i indicate by that undoubtedly 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 indicates am i all right with possibly losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 people will lose money however that similarly implies they’ll lose eventually in their journey certainly individuals do generate income too and i’ve got videos all about how you can make certain you’re one of individuals to actually earn money but in this scenario make certain you research your threat level would you be okay offering your cash to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re buying completely if you’re someone who isn’t wishing to be that risky do not select somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you might not want 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 use this too truly quickly over here you can copy individuals now it will provide you a great deal of choices and you can use the system to really look for somebody that you elegant in fact following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has actually met that criteria and it does provide you a risk 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 people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to verify are you all right 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 actually purchasing 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 good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so actually for me knowing what i like to purchase my private 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 likewise got a bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Is It Safe To Give Etoro My Social Security Number.
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