Find the answer to Mi Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you in fact wish to invest and you desire someone to do it for you there’s only a number of ways that that can happen the first of all you can work with a financial investment portfolio supervisor they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 as well now if you’re brand new to an overall please remember this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row buy these choices because you think is the right ones for you which being said let’s dive straight 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 alternative to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for example 10 of their financial 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 charges involved truly important you understand what are the costs of this now with any platform there will be some expense 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 absolutely no fee sites 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 altering 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 fees with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees actually essential to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling all right so commission costs are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges 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 but when you wish to withdraw your cash 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 understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends totally how you’re investing but that is a charge to keep in mind the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
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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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they in fact 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 rather you have to pay their costs now the great aspect of though when you have actually transformed your money you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their site won’t definitely limit you in any way however we need to be aware of 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is basically the difference that is part of the investment platform between the buy price and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current cost of tesla is the value of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference 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 out charges it’s normally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last task is called an
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overnight fee now this is really important if you’re really using cfds yourself too an overnight cost is when you’re refraining from doing that buy sell deal in the exact same day all right there’s then an overnight charge charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re in fact purchasing the exact possession instead of using leverage anyway you won’t get hit with these costs but these fees are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you enter into the aid area this isn’t the overnight charges 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 and that only applies as i stated to cfds there are some surcharges naturally depending upon what you are investing in too this is on your own so keep that in mind but complete fees are completely within their assistance information fine and we talked about along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever 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 various ways of actually using these copy operates they don’t have any extra charges on top of the typical fees that
are there now what you require to keep in mind though is these potentially managed by other people entirely or in some cases have actually produced portfolios you’ve got a real individual doing the management you have to make sure you pick the individual that’s right for you just like any kind of work this is your financial possessions so we absolutely need to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various alternatives for us first off 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 think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is a fantastic choice for you again to evaluate the theories okay you may want to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it certainly you might have missed out on gains and losses during that time naturally if you had actually invested your real money it allows you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really 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 indicate by that clearly 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 just indicates am i okay with possibly losing a good amount of this investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose money however that equally indicates they’ll lose at some time in their journey certainly individuals do make money too and i have actually got videos all about how you can ensure you are among the people to in fact generate income however in this situation ensure you research your risk level would you be okay offering your money to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous don’t select someone who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might 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 actually quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to really look for somebody that you expensive actually following so let’s see maybe we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has satisfied that criteria and it does provide you a threat aspect as well 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 people that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you fine with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she really 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 bit so that’s excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is great so actually for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. Mi Etoro.
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