We get htis a lot on our site the answer to Correct Answer 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 actually want to invest and you want someone to do it for you there’s only a couple of manner ins which that can take place the to start with you can work with 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 of course you can buy mutual funds particular funds are developed 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 remember this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row invest in these choices because you think is the ideal ones for you and that being stated let’s dive directly in [Music] so the 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 advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means 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 charges involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly 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 absolutely no fee sites then might not charge you for actually 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 altering from uk to u.s dollars there’s all sort of costs 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 understand before you actually begin buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission fees are free however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 later on but when you wish to withdraw your cash so you sell 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 of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a fee to keep in mind the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits 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 great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they in fact 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 provide me us dollars rather you have to pay their charges now the fantastic thing about however when you have actually converted your cash you do not need to invest it immediately that dollar value can being 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 extra costs so that’s really excellent using that part of their website will not certainly restrict you in any way however we need to know 2 other fees the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy rate and the price fine 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 worth 599 per share in tesla that actually suggests that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you each time you do a buyer’s share so keep that in mind obviously it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you state alright well why does that occur 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 which is how they make a bit of cash on those spread costs it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit cash now the last feat is called an
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over night cost now this is really essential if you’re actually using cfds yourself also an overnight fee is when you’re not doing that buy offer deal in the very same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which suggests you’re in fact buying the exact property instead of utilizing take advantage of anyhow you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you go into the aid section this isn’t the over night 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 which just applies as i said to cfds there are some added fees naturally depending on what you are investing in too this is on your own so keep that in mind however complete costs are completely within their assistance info okay and we talked about in addition to complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of actually utilizing these copy operates they don’t have any additional fees on top of the normal charges that
exist now what you require to remember though is these potentially handled by other people totally or in some cases have actually created portfolios you’ve got a real individual doing the management you have to make sure you select the individual that’s right for you much like any line of work this is your financial possessions so we absolutely require to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real 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 money that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is a terrific alternative for you again to evaluate the theories okay you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it obviously you may have missed out on gains and losses during that time of course if you had actually invested your genuine cash it allows you to build 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 in fact how to copy individuals and copy portfolios now here’s something to remember prior to you select 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 suggest by that obviously 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 okay with potentially losing an excellent quantity of this financial investment or getting as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly implies they’ll lose at some point in their journey undoubtedly individuals do generate income as well and i have actually got videos everything about how you can make sure you are among the people to actually make money but in this situation ensure you research your threat level would you be all right providing your money to another person which is successfully what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that risky do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may 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 actually use this too actually easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to in fact search for someone that you expensive actually following so let’s see possibly we want someone from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has satisfied that criteria and it does provide you a threat aspect 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 rather high returns
remember it’s like 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 4 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 then you know ask you to confirm are you okay 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 actually deep dive into what is she actually 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 know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is excellent so in fact for me knowing what i like to invest in 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 chooses she’s also got a bit more um of the type of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Correct Answer Etoro.
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