Find the answer to Etoro Vs Coinmama Vs….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply don’t wish to decide what you in fact want to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the to start with you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are created once 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 a total please bear in mind this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash 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 purchasing 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 certainly your capital is at threat and we have to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row purchase these choices because you believe is the ideal ones for you which being said let’s dive straight in [Music] 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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well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash 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 likewise cover is the fees involved really vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero fee sites then may not charge you for in fact buying and selling funds or etfs specific products specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 understand prior to you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission costs are totally free however there are a couple of other costs the very first one is withdrawal charges so you can certainly put money in now if you remain 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 offer your shares you offer 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 obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state alright that’s quite 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 just among those alternatives that they have a lot of platforms undoubtedly 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 as soon as every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee 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 fee is there what are they really offering 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 state offer me us dollars rather you need to pay their charges now the excellent aspect of however when you have actually converted your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of 2 other costs the very first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is basically the difference that becomes part of the investment platform between the buy price and the price okay 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 value 599 per share in tesla that in fact implies that when you want to sell or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to buy 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 happen 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 wish to sell it which is how they make a little bit of cash on those spread out costs it’s usually incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit money now the last feat is called an
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over night cost now this is actually important if you’re really utilizing cfds yourself also an over night fee is when you’re refraining from doing that buy offer transaction in the same day okay there’s then an over night charge charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which means you’re really purchasing the specific possession rather than utilizing take advantage of anyway you won’t get hit with these charges but these charges are if you’re using take advantage of 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 go into the help area this isn’t the overnight costs info you can see exactly the breakdown and it’ll inform 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 service charges of course depending on what you are investing in as well this is on your own so keep that in mind however complete charges are completely within their assistance information alright and we spoke about as well as complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of actually utilizing these copy functions they do not have any additional costs on top of the typical charges that
exist now what you require to bear in mind though is these potentially handled by other people entirely or sometimes have produced portfolios you’ve got a real person doing the management you have to ensure you pick 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 person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a great option for you again to test the theories alright you might want to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it clearly you may have lost out on gains and losses during that time obviously if you had actually invested your genuine cash it enables you to develop confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat 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 financial investments the riskier you can be run the risk of just implies am i all right with potentially losing a great quantity of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally means they’ll lose eventually in their journey obviously individuals do earn money as well and i have actually got videos all about how you can make sure you’re one of the people to really make money but in this situation make sure you research study your danger level would you be fine giving your cash to somebody else which is successfully what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re someone who isn’t wanting to be that dangerous don’t select someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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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 very same with who you’re following now as i say you can really utilize this too really quickly over here you can copy people now it will provide you a lot of options and you can use the system to in fact search for somebody that you fancy in fact following so let’s see possibly we want someone from united kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has fulfilled that requirements and it does give you a risk element as well 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 individuals that have quite high returns
remember it resembles anything to do with the news or forecasts 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 confirm are you all right with this and off you go now another method to actually 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 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 definitely like type of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the type of main food companies and you have actually got you know pharmaceutical and production business as that. Etoro Vs Coinmama Vs.
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