We get htis a lot on our site the answer to Consob Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you merely don’t want to decide what you actually want to invest and you want somebody to do it for you there’s only a number of manner ins which that can occur the firstly you can work with an investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 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 in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume because i use 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 give that option too so you really get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since 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 best ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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famous for it’s the option to see what other traders are doing incredible we don’t usually 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 in fact state i want to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 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 fees included actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling funds or etfs private products specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 in fact begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling fine so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal costs so you can certainly put money in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want 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 five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those options that they have a great deal of platforms undoubtedly are complimentary 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 6 months you know depends completely how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have i suppose stuck to whatever cost 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 exists what are they really giving 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 state give me us dollars rather you need to pay their charges now the fantastic aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial 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 truly good utilizing that part of their website will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread charges alright and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is generally the difference that belongs to the financial investment platform between the buy price 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 site today tesla’s dollar value 599 per share in tesla that really implies that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current cost of tesla is the value of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread costs it’s usually incredibly 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 task is called an
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over night fee now this is really important if you’re really using cfds yourself too an overnight cost is when you’re refraining from doing that buy offer transaction in the same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which suggests you’re actually buying the precise possession rather than using take advantage of anyhow you will not get hit with these fees but these fees are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you enter into the aid section this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just applies as i stated to cfds there are some added fees of course depending upon what you are investing in too this is on your own so keep that in mind but complete charges are completely within their aid details alright and we spoke about in addition to free to deposit in however there’s a five dollar charge if you wish 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 stated copy trading and copy portfolios are two different ways of in fact using these copy functions they do not have any extra charges on top of the normal costs that
are there now what you need to keep in mind though is these potentially handled by other people completely or often have actually created portfolios you have actually got a real person doing the management you need to make sure you select the person that’s right for you much like any line of work this is your monetary possessions so we definitely need to make certain it’s the right individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a number of different alternatives 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 money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money possibly this is a fantastic choice for you again to check the theories fine you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe have fun with it clearly you might have missed out on gains and losses throughout that time obviously if you had actually invested your genuine cash it enables you to build confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i suggest by that clearly 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 risk just implies am i alright with potentially losing a good amount of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money but that similarly means they’ll lose at some point in their journey certainly people do generate income as well and i have actually got videos everything about how you can ensure you are among individuals to really make money however in this circumstance ensure you research your danger level would you be okay providing your money to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too actually easily over here you can copy individuals now it will provide you a great deal of options and you can use the system to in fact look for someone that you elegant really following so let’s see possibly we want somebody from joined kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually met that requirements and it does offer you a risk element also 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 individuals that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way 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 validate are you fine with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is excellent so really for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production business as that. Consob Etoro.
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