Find the answer to Etoro Fox….Concerns that i hear from new investors what if you’re brand new to investing you just do not want to decide what you in fact want to invest and you want someone to do it for you there’s just a couple of manner ins which that can occur the to start with you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can purchase 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 too now if you’re brand new to an overall please remember this platform is rather 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 discovering please do study the platform do not just assume since 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 option as well so you in fact get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at threat and we need 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 ideal ones for you and that being stated 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 most likely.
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famous for it’s the option to see what other traders are doing unbelievable we don’t usually 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 really state i want to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 no charge websites then may not charge you for really buying and selling etfs or funds individual products private stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually essential to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission fees are complimentary nevertheless there are a number of other fees the first one is withdrawal charges so you can undoubtedly put money 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 but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity 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 ensure that i’m just withdrawing when i definitely need to now you may state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms obviously are complimentary 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 as soon as every six months you understand depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway 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 utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact giving 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 give me us dollars instead you need to pay their costs now the excellent aspect of though when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their site won’t definitely limit you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is basically the difference that belongs to the investment platform between the buy cost and the price all right 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 suggests that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the existing cost of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase 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 whenever you do a purchaser’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state all right well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread out charges it’s normally incredibly 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 little bit money now the last task is called an
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overnight cost now this is truly essential if you’re really using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell deal in the same day alright there’s then an over night charge charged or perhaps 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 commodity and using time one utilize which means you’re in fact purchasing the exact property instead of utilizing utilize anyway you won’t get hit with these costs however 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 selling in the same day so let’s say if you enter into the help area this isn’t the overnight charges details you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some surcharges obviously depending upon what you are investing in as well this is on your own so keep that in mind but complete charges are completely within their aid info okay and we talked about along with totally free 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of really using these copy functions they don’t have any extra fees on top of the normal fees that
are there now what you require to remember though is these potentially handled by other people entirely or often have produced portfolios you have actually got a genuine person doing the management you need to ensure you select the individual that’s right for you similar to any type of work this is your financial properties so we absolutely require to ensure it’s the ideal individual for us before 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 different options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not 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 but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash possibly this is an excellent alternative for you again to test the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe have fun 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 allows you to construct self-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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i fine with possibly losing an excellent amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose cash however that equally indicates they’ll lose eventually in their journey certainly people do earn money as well and i’ve got videos everything about how you can make certain you’re one of the people to actually make money however in this circumstance ensure you research your threat level would you be alright offering your money to another person which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s entirely 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 might 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 actually utilize this too actually easily over here you can copy individuals now it will give you a lot of choices and you can use the system to really look for somebody that you elegant really following so let’s see perhaps we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has actually met that requirements and it does give you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people 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 indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way 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 fine with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so in fact for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Etoro Fox.
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