Find the answer to Bithump Vs Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you merely don’t wish to decide what you really want to invest and you desire somebody to do it for you there’s just a couple of ways that that can happen the first of all you can hire a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are created once 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 also now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i utilize 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 alternative too so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row buy these choices because you believe is the right ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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 usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests 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 likewise cover is the costs included truly critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for actually buying and selling etfs or funds private products private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to understand before you really start purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with fees really important 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 totally free however there are a number of other charges the very first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you offer your shares you offer your products 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may 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 costs are just one of those options that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a fee to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just 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 anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have actually i suppose stuck with 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 cost is there what are they in fact offering you in regards to 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 provide me us dollars instead you have to pay their costs now the fantastic aspect of though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash 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 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 website won’t certainly limit you in any way however we need to be aware of two other fees the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform in between the buy cost and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really indicates that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to offer 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 sell it which is how they make a little bit of cash on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last accomplishment is called an
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over night cost now this is truly crucial if you’re actually utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy sell transaction in the very same day okay 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 just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which suggests you’re in fact purchasing the precise possession rather than using utilize anyway you will not get hit with these charges however these charges are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s say if you enter into the help section this isn’t the overnight charges 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 which only applies as i stated to cfds there are some added fees of course depending upon what you are investing in also this is on your own so keep that in mind however full costs are totally within their assistance details fine and we spoke about along with free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really using these copy functions they don’t have any additional fees on top of the typical charges that
exist now what you need to remember though is these potentially handled by other people entirely or often have developed portfolios you’ve got a genuine individual doing the management you have to make certain you pick the individual that’s right for you similar to any type of work this is your monetary possessions so we definitely need to make certain it’s the right person 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 number 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 option to invest genuine money or a virtual platform virtual means i think 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 credit card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money maybe this is a terrific alternative for you again to evaluate the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it certainly you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it permits you to build self-confidence understand the platform so that’s one alternative 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 prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply indicates am i okay with possibly losing a great quantity of this investment or getting as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose cash however that equally indicates they’ll lose at some time in their journey clearly people do make money also and i’ve got videos everything about how you can make sure you’re one of the people to really earn money but in this scenario make certain you research study your risk level would you be all right giving your cash to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wanting to be that dangerous don’t choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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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 say you can in fact utilize this too actually easily over here you can copy people now it will give you a great deal of options and you can utilize the system to in fact search for someone that you elegant actually following so let’s see perhaps we desire someone from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has actually met that requirements and it does offer you a danger element also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is excellent so really for me understanding what i like to buy 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 chooses she’s also got a little bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production business as that. Bithump Vs Etoro.
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