Can I Cash Out My Money In My Etoro Wallet?… an undertanding of Questions that i hear from new investors what if you’re brand new to investing you simply don’t want to decide what you actually want to invest and you want somebody to do it for you there’s only a couple of ways that that can happen the first of all you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are created 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 a total please bear in mind this platform is quite advanced you can do cfds which of course 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 about please do study the platform don’t just assume because i use 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 as well so you actually get used 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 risk this is investing we’re doing you’re investing in real companies if you choose 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 risk and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row invest in these choices because you believe is the right ones for you and that being said let’s dive straight in [Music] so 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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famous for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of options and basically every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really critical you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the zero fee sites then may not charge you for actually buying and selling funds or etfs individual 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 fees 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 know before you actually start investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling okay so commission fees are free however there are a couple of other fees the first one is withdrawal fees so you can obviously put money in now if you’re 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 but when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those options that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a fee to bear in mind the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that suits me Can I Cash Out My Money In My Etoro Wallet?
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they actually giving you in terms of 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 say give me us dollars instead you have to pay their fees now the great thing about though when you’ve converted your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means 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 additional fees so that’s really good using that part of their website won’t certainly limit you in any way however we have to be aware of two other fees the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is basically the difference that is part of the investment platform between the buy price and the sale price okay 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 means that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that again so the current price of tesla is the value of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread fees it’s usually incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last feat is called an
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overnight fee now this is really important if you’re actually using cfds yourself as well an overnight fee is when you’re not doing that buy sell transaction in the same day okay there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which means you’re actually buying the exact asset rather than using leverage anyway you won’t get hit with these fees but these fees are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the help section this isn’t the overnight fees information you can see exactly 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 and that only applies as i said to cfds there are some additional charges of course depending on what you are investing in as well this is on your own so keep that in mind but full fees are completely within their help information okay and we talked about as well as free to deposit in but 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 five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of actually using these copy functions they don’t have any extra fees on top of the normal fees that
are there now what you need to bear in mind though is these potentially managed by other people completely or sometimes have created portfolios you’ve got a real person doing the management you have to make sure you select the person that’s right for you just like any line of work this is your financial assets so we absolutely need to make sure it’s the right person 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 options for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your credit card details or anything you can basically have this virtual portfolio mimic as if you are using your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is a great option for you again to test the theories okay you may want to buy tesla or apple or this etf why not use the virtual option as a way to kind of safe play with it obviously you might have missed out on gains and losses during that time of course if you had invested your real money it allows you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you select 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 mean by that obviously 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 just means am i okay with potentially losing a good amount of this investment or gaining as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 people will lose money but that equally means they’ll lose at some point in their journey obviously people do make money as well and i’ve got videos all about how you can make sure you’re one of the people to actually make money but in this circumstance make sure you research your risk level would you be okay giving your money to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that risky don’t pick someone who’s completely into crypto or currency conversion think about it you’d probably want a backbone of strong commodities
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like gold or even oil plus more traditional 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 say you can actually use this too really easily over here you can copy people now it will give you a lot of choices and you can use the system to actually search for someone that you fancy actually following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good amount and i can find everybody who has met that criteria and it does give you a risk factor as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns Can I Cash Out My Money In My Etoro Wallet?.
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 could make four or minus 50 there’s no way to guarantee 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 actually 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 investing in so let’s go into portfolio and you can see she’s quite 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 kind of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is good so actually for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech companies 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’ve got you know pharmaceutical and production companies as that.
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