We get htis a lot on our site the answer to Common Reporting Standard Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t wish to choose what you really want to invest and you want someone to do it for you there’s only a number of ways that that can occur the first of all you can employ an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course 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 an overall please bear in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row buy these options because you think is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
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famous for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests 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 costs included really crucial you understand what are the costs of this now with any platform there will be some cost to obviously 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 no cost sites then may not charge you for in fact buying and selling funds or etfs private commodities private 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 fees 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 before you actually start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission charges are free however there are a couple of other costs the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling 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 need to now you might say okay that’s quite costly and i get that but 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 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 six months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’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 purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two open market anyone at all this is standard 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 use their platform go from uk to us then that conversion cost is there what are they really 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 state offer me us dollars instead you have to pay their fees now the excellent aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 charges so that’s truly great using that part of their site will not definitely restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform between the buy rate and the price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you wish to sell 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 value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you state fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread out charges it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit cash now the last feat is called an
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overnight charge now this is truly essential if you’re actually utilizing cfds yourself too an overnight cost is when you’re not doing that buy sell transaction in the same day all right there’s then an over night cost charged and 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 in fact buying out the etf the stock the product and utilizing time one utilize which indicates you’re really purchasing the exact property instead of using take advantage of anyway you won’t get hit with these fees but these costs are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you go into the assistance section this isn’t the over night charges info you can see precisely 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 just uses as i stated to cfds there are some surcharges obviously depending upon what you are investing in also this is on your own so keep that in mind however complete fees are totally within their assistance information alright and we spoke about along with complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of actually utilizing these copy operates they don’t have any extra costs on top of the regular costs that
are there now what you require to bear in mind though is these potentially handled by other people entirely or sometimes have actually produced portfolios you’ve got a real person doing the management you have to make sure you choose the individual that’s right for you just like any kind of work this is your monetary properties so we definitely need to ensure it’s the right person for us before 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 choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun 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 imitate as if you are utilizing your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a great alternative for you once again to evaluate the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it certainly you may have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it enables you to construct self-confidence understand 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 really how to copy people and copy portfolios now here’s something to keep in mind 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 threat profile is now what do i indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i fine with potentially losing an excellent quantity of this investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly implies they’ll lose at some point in their journey clearly people do make money also and i have actually got videos everything about how you can make certain you are among individuals to actually generate income however in this situation ensure you research your danger level would you be okay offering your money to another person which is effectively what you’re doing and trusting them ensure you understand what they’re buying completely if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong commodities
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like gold or even 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 in fact utilize this too actually easily over here you can copy people now it will offer you a lot of options and you can utilize the system to actually search for someone that you expensive in fact following so let’s see possibly we desire someone from joined kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually satisfied that criteria and it does provide you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance 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 all right with this and off you go now another way to really deep dive if we click this person for example 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 good to know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so actually 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 companies that appears to be what she chooses she’s also got a little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production companies as that. Common Reporting Standard Etoro.
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