We get htis a lot on our site the answer to Etoro Con….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just do not want to choose what you actually wish to invest and you want someone to do it for you there’s only a number of ways that that can occur the first off you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is obviously 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 too now if you’re brand new to a total 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 really having the total of capital so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you in fact get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row purchase these choices since you believe is the ideal ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included actually crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
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there’ll be charges 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 show you the fees with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and lastly some finest guidance 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 fees really important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal fees 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 however when you wish to withdraw your cash so you offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among 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 largely it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 say offer me us dollars rather you have to pay their fees now the fantastic aspect of though when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert 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 excellent utilizing that part of their website won’t certainly limit you in any way nevertheless we need to be aware of two other costs the first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is basically the difference that belongs to the investment platform between the buy price and the sale 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 indicates that when you wish to sell or purchase 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 worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you say fine 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 offer it and that is how they make a bit of cash on those spread out charges it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last accomplishment is called an
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over night fee now this is actually essential if you’re actually utilizing cfds yourself also an overnight fee is when you’re not doing that buy sell transaction in the very same day okay there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which implies you’re in fact buying the precise possession instead of utilizing utilize anyhow you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s state if you enter into the assistance area this isn’t the overnight fees info 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 overnight or you’re doing over weekends and that only uses as i said to cfds there are some additional charges obviously depending upon what you are purchasing also this is on your own so keep that in mind but full charges are entirely within their aid info alright and we spoke about along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of actually utilizing these copy operates they do not have any extra fees on top of the normal fees that
are there now what you need to keep in mind though is these possibly handled by other people entirely or often have created portfolios you have actually got a genuine person doing the management you have to ensure you pick the person that’s right for you much like any kind of work this is your financial assets so we absolutely require to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play 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 essentially have this virtual portfolio mimic as if you are using your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is a great option for you again to test the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe play with it obviously you may have lost out on gains and losses during that time of course if you had actually invested your genuine money it enables you to build confidence understand 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 individuals 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 certain you understand what your risk profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just implies am i okay with potentially losing a great amount of this financial investment or gaining as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose at some time in their journey clearly individuals do earn money also and i have actually got videos all about how you can ensure you’re one of the people to actually generate income but in this circumstance ensure you research study your risk level would you be fine giving your money to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing fully if you’re someone who isn’t wishing to be that risky don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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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 actually utilize this too actually easily over here you can copy people now it will give you a great deal of options and you can use the system to actually look for someone that you fancy in fact following so let’s see possibly we want someone from united kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has actually met that requirements and it does offer you a danger element as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly 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 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to verify are you okay with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing 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 good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is great so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production business as that. Etoro Con.
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