Find the answer to Thinkorswin Vs Etoro….Questions that i speak with new investors what if you’re brand new to investing you simply don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s just a number of manner ins which that can occur the to start with you can work with an investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds particular funds are created 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 naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you in fact get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row buy these choices due to the fact that 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 understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
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popular for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that implies 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 costs involved really critical you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for really buying and selling funds or etfs individual 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 sort 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 know before you in fact start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees so you can obviously 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 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those options that they have a great deal 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 as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use 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 say offer me us dollars rather you need to pay their fees now the excellent feature of though when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their site will not definitely restrict you in any way however we have to know two other costs the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the investment platform between the buy rate and the list price okay 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 value 599 per share in tesla that really indicates that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say all right 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 wish to offer it and that is how they make a little bit of cash on those spread charges it’s generally extremely small 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 charge now this is truly important if you’re in fact using cfds yourself also an over night charge is when you’re not doing that buy offer deal in the exact same day all right there’s then an over night charge charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which suggests you’re actually buying the specific asset instead of using utilize anyway you will not get hit with these costs but these charges are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s state if you go into the aid area this isn’t the overnight fees information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some added fees of course depending upon what you are investing in as well this is on your own so keep that in mind but complete costs are totally within their help details alright and we spoke 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 normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy functions they do not have any additional costs on top of the normal fees that
exist now what you require to keep in mind though is these possibly managed by other people completely or sometimes have actually developed portfolios you’ve got a real individual doing the management you have to make certain you choose the person that’s right for you similar to any type of work this is your monetary assets so we absolutely need to make certain it’s the best person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different 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 ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is a fantastic option for you once again to check the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it undoubtedly you may have missed out on gains and losses throughout that time naturally if you had actually invested your real cash it allows you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i mean 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 suggests am i fine with potentially losing a good quantity of this financial investment or gaining as
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well now remember whatever is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that similarly indicates they’ll lose eventually in their journey obviously individuals do earn money too and i have actually got videos all about how you can ensure you are among individuals to in fact earn money however in this situation ensure you research study your risk level would you be fine giving your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that dangerous do not select someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps 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 state you can actually utilize this too truly quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to in fact search for somebody that you elegant in fact following so let’s see maybe we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has fulfilled that criteria and it does provide you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
keep in mind 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 might make four or minus 50 there’s no chance 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 confirm are you alright with this and off you go now another way to actually deep dive if we click this person for instance 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 bit so that’s excellent to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is good so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production companies as that. Thinkorswin Vs Etoro.
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