We get htis a lot on our site the answer to Bigfish Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you simply don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first off you can hire an investment portfolio manager they’ll typically charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can purchase 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 as well now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t just presume since 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 consider that option too so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these choices since you think is the best 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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popular for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates if for example 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 likewise cover is the charges involved truly important you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really essential to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission fees are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you sell your shares you offer your products 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 of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives 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 mostly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a cost to remember the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’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 even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they actually providing you in regards to 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 state give me us dollars instead you need to pay their costs now the fantastic thing about though when you have actually converted your money you do not have to invest it right away that dollar value can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really good using that part of their site will not certainly limit you in any way nevertheless we have to know two other charges the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is basically the distinction that is part of the investment platform in between the buy cost and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that actually means that when you want to offer or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover 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 obviously it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread charges it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit cash now the last task is called an
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over night cost now this is actually essential if you’re actually using cfds yourself also an overnight cost is when you’re refraining from doing that buy offer deal in the same day all right there’s then an over night fee charged or even if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which suggests you’re in fact purchasing the exact property instead of using leverage anyway you won’t get hit with these costs but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the assistance section 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 fees then for when you’re doing over night or you’re doing over weekends which just uses as i said to cfds there are some service charges of course depending upon what you are investing in also this is on your own so keep that in mind but full costs are totally within their help details okay and we discussed along with totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of actually using these copy functions they do not have any extra costs on top of the normal charges that
exist now what you require to keep in mind though is these potentially handled by other people entirely or often have actually developed portfolios you’ve got a real individual doing the management you need to make certain you pick the person that’s right for you similar to any profession this is your financial possessions so we definitely need to ensure 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’ve got a couple of different choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash 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 won’t require to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is a great choice for you again to check the theories okay you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it certainly you might have lost out on gains and losses during that time of course if you had invested your genuine money it allows you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind prior to you choose 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 indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i alright with potentially losing a good quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash however that similarly indicates they’ll lose at some point in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can ensure you are among the people to actually make money but in this situation make certain you research study your risk level would you be all right providing your cash to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re buying fully if you’re someone who isn’t wanting to be that risky don’t select someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact utilize this too actually easily over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to in fact search for someone that you elegant actually following so let’s see perhaps we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has met that criteria and it does give you a threat element also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest 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 simple as clicking the copy button and off you go and then you understand ask you to validate are you all right with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite 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 type of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so in fact for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production business as that. Bigfish Etoro.
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