Find the answer to Similar Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you want someone to do it for you there’s only a number of ways that that can happen the first of all you can hire a financial investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two 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 bear in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you really get used to the structure of the website 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 real business if you pick to in this specific video we’re speaking 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 simply do something since that person has said they’ve made earnings 14 months in a row purchase these choices due to the fact that you think 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 belongs to social trading which is one aspect that is most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for instance 10 of their financial 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 truly vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge websites then might not charge you for in fact buying and selling etfs or funds private products individual stocks.
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there’ll be fees on other parts perhaps 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 show you the costs with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually important to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission costs are totally free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can certainly 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 in the future but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity 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 make certain that i’m just withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those options that they have a lot of platforms obviously are totally free to do such things has this 5 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 but that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re handling 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 lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great 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 open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really providing 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 provide me us dollars instead you have to pay their fees now the terrific feature of though when you’ve transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really great utilizing that part of their site won’t definitely limit you in any way nevertheless we need to know two other charges the first being what’s called spread charges all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy rate 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 right now tesla’s dollar value 599 per share in tesla that really means that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you state okay well why does that happen it just 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 fees it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last task is called an
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over night fee now this is really important if you’re actually using cfds yourself also an overnight fee is when you’re not doing that buy sell deal in the very same day all right there’s then an over night charge charged and even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which indicates you’re in fact buying the specific possession instead of utilizing leverage anyway you will not get hit with these fees but these charges are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you enter into the assistance section this isn’t the overnight costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some service charges obviously depending upon what you are buying also this is on your own so keep that in mind but complete fees are completely within their aid information okay and we spoke about along with complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of actually utilizing these copy works they do not have any additional costs on top of the regular charges that
exist now what you need to bear in mind though is these possibly managed by other individuals totally or in some cases have actually created portfolios you have actually got a genuine individual doing the management you have to ensure you pick the individual that’s right for you just like any line of work this is your financial assets so we absolutely require to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of different options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is a fantastic option for you again to check the theories alright you may want to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it obviously you might have missed out on gains and losses during that time naturally if you had invested your real money it permits you to build confidence understand the platform so that’s one option 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 remember prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i imply 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 risk simply suggests am i okay with possibly losing a great quantity of this investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash however that similarly implies they’ll lose eventually in their journey obviously individuals do make money also and i have actually got videos all about how you can ensure you’re one of the people to actually earn money but in this situation make sure you research your threat level would you be okay providing your money to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold and 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 in fact use this too truly quickly over here you can copy individuals now it will offer you a lot of choices and you can use the system to really search for someone that you expensive actually following so let’s see perhaps we desire someone from unified kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has met that criteria and it does give you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have quite high returns
keep 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 might 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 after that you understand ask you to confirm are you all right with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is great so in fact for me knowing what i like to purchase 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 also got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Similar Etoro.
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