Find the answer to Etoro Joe….Questions that i hear from new investors what if you’re brand new to investing you simply don’t want to decide what you really want to invest and you want somebody to do it for you there’s just a number of manner ins which that can happen the to start with you can employ an investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are produced 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 bear 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 in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just presume since i use it that you can utilize it right away 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 site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they have actually made profit 14 months in a row invest in these options since you think is the ideal 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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well-known for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that means 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 likewise cover is the charges involved really important you understand what are the costs of this now with any platform there will be some cost 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 fee websites then might not charge you for actually buying and selling etfs or funds individual products individual 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 sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly essential to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission costs are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want 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 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms certainly are totally 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 when every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the second cost 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 and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 say offer me us dollars rather you have to pay their costs now the terrific thing about though when you’ve transformed your cash 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 implies the initial day that you purchase or transform 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 good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is basically the difference that belongs to the investment platform between the buy price and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that in fact means that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing cost of tesla is the worth of a share what’s called spread fees is the distinction 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 benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you say okay well why does that occur it simply 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 and that is how they make a bit of money on those spread out charges it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit money now the last accomplishment is called an
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overnight cost now this is truly important if you’re in fact using cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an overnight cost charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which indicates you’re really buying the specific possession instead of using leverage anyhow you won’t get hit with these charges but these charges are if you’re using leverage and cfds and then 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 costs information 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 which only uses as i said to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind however complete fees are totally within their aid info alright and we talked about along with complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of really using these copy functions they don’t have any extra charges on top of the regular costs that
are there now what you require to keep in mind though is these potentially managed by other individuals entirely or sometimes have developed portfolios you have actually got a real individual doing the management you have to make sure you choose the person that’s right for you just like any line of work this is your financial possessions so we absolutely require to ensure it’s the best individual 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 alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash 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 require to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is an excellent alternative for you once again to check the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it undoubtedly you might have lost out on gains and losses during that time obviously if you had invested your real cash it enables you to construct 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 actually how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i imply by that clearly 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 simply implies am i okay with possibly losing an excellent quantity of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose cash however that similarly indicates they’ll lose at some point in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can make certain you’re one of the people to actually earn money however in this situation make sure you research study your risk level would you be alright providing your cash to another person which is successfully what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that risky do not pick someone who’s totally into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold and 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 state you can actually use this too actually quickly over here you can copy people now it will provide you a lot of options and you can use the system to really search for someone that you elegant in fact following so let’s see perhaps we want somebody from joined kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has actually met that criteria and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to validate are you okay with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually 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 little bit so that’s good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so really for me understanding what i like to invest in my individual 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 likewise got a little bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Joe.
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