Find the answer to Mycelium Vs Etoro….Questions that i speak with new investors what if you’re brand new to investing you merely do not wish to decide what you actually wish to invest and you want somebody to do it for you there’s only a number of ways that that can occur the to start with you can work with a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are developed 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 remember this platform is quite sophisticated you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform don’t just assume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not simply do something since that individual has actually said they’ve made revenue 14 months in a row buy these options because you believe is the best ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included actually vital you comprehend 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 purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for really buying and selling etfs or funds individual products individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 understand prior to you actually start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really essential to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put cash 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 however when you want 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a charge to remember the second fee that i have actually touched upon is that conversion cost now with you’re dealing in 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 anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really offering you in terms of 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 say give me us dollars instead you need to pay their costs now the great feature of though when you have actually transformed your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their site will not definitely restrict you in any way nevertheless we have to be aware of two other fees the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is essentially the difference that belongs to the financial investment platform between the buy price and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that actually means that when you want 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 present cost of tesla is the worth of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state 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 and that is how they make a little bit of cash on those spread costs it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last accomplishment is called an
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over night cost now this is truly important if you’re in fact using cfds yourself also an overnight fee is when you’re refraining from doing that buy sell transaction in the exact same day alright there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which suggests you’re really buying the precise asset rather than utilizing leverage anyway you won’t get hit with these costs however these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you enter into the assistance area this isn’t the over night costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just uses as i stated to cfds there are some additional charges obviously depending on what you are investing in too this is on your own so keep that in mind but full charges are totally within their aid info fine and we spoke about in addition to free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal fee 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 operates they don’t have any additional charges on top of the regular costs that
are there now what you require to remember though is these potentially managed by other people totally or often have actually developed portfolios you have actually got a real person 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 definitely require to make certain it’s the ideal person for us prior to 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 various alternatives for us firstly 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 play with and it’s not real money that you’re investing you won’t need to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a terrific choice for you once again to check the theories all right you may want to buy tesla or apple or this etf why not use the virtual option as a method to type of safe play with it certainly you may have missed out on gains and losses during that time naturally if you had invested your real cash it allows you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real 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 select 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 imply by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i all right with potentially losing a great quantity of this investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly implies they’ll lose eventually in their journey obviously people do generate income as well and i’ve got videos everything about how you can ensure you are among individuals to in fact earn money but in this circumstance make certain you research study your danger level would you be fine giving your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that risky don’t select somebody who’s totally into crypto or currency conversion think of it you ‘d probably desire 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 same with who you’re following now as i state you can actually use this too truly quickly over here you can copy individuals now it will provide you a lot of options and you can utilize the system to really look for somebody that you elegant actually following so let’s see maybe we want somebody from unified kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has satisfied that requirements and it does provide you a threat factor as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually purchasing 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 excellent to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is excellent so actually for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Mycelium Vs Etoro.
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