We get htis a lot on our site the answer to Etoro Goojibooboo….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply don’t wish to decide what you actually wish to invest and you desire someone to do it for you there’s just a couple of manner ins which that can occur the first off you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are developed once 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 as well now if you’re brand new to an overall please keep in mind this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the site and then when you’re ready to use 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 purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually said they have actually made earnings 14 months in a row invest in these choices because you believe is the best ones for you and that 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’s part of social trading which is one element that is most likely.
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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means 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 each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies 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 costs involved truly crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real 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 no charge websites then might not charge you for in fact buying and selling etfs or funds specific commodities private 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 sort of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly crucial to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling all right so commission costs are complimentary however there are a number of other charges the very first one is withdrawal fees 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 immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those options that they have a great deal of platforms undoubtedly are 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 once every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really offering 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 offer me us dollars rather you have to pay their costs now the great thing about though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 fees so that’s actually great utilizing that part of their website will not definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you
on is generally the distinction that belongs to the financial investment platform in between the buy rate and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really suggests that when you want to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread fees is the difference then actually 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 whenever 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 provide you less back with your sale and you state alright well why does that happen it simply 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 sell it which is how they make a little bit of money on those spread fees it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit cash now the last accomplishment is called an
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over night charge now this is truly important if you’re really utilizing cfds yourself also an overnight fee is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which means you’re in fact purchasing the precise asset rather than using leverage anyhow you will not get hit with these costs however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you enter into the help section this isn’t the over night fees info you can see precisely 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 which only uses as i said to cfds there are some additional charges obviously depending upon what you are buying also this is on your own so keep that in mind but full charges are totally within their help details all right and we discussed as well as free to deposit in but there’s a five dollar charge if you want 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’ve stated copy trading and copy portfolios are 2 various methods of actually using these copy operates they do not have any additional fees on top of the normal charges that
are there now what you require to remember though is these potentially handled by other individuals completely or often have developed portfolios you’ve got a real individual doing the management you have to make certain you select the person that’s right for you just like any line of work this is your financial assets so we absolutely require to make certain it’s the best individual for us before 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 various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means i believe 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 details or anything you can essentially have this virtual portfolio mimic as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a great option for you again to check the theories alright you may wish to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it obviously you might have lost out on gains and losses during that time naturally if you had invested your real cash it allows you to build 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 really how to copy individuals and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i imply by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply means am i okay with possibly losing a good amount of this investment or getting as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that similarly suggests they’ll lose at some time in their journey undoubtedly individuals do make money too and i’ve got videos everything about how you can ensure you are among individuals to in fact earn money however in this situation make certain you research study your risk level would you be all right giving your money to another person which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous do not choose someone who’s completely into crypto or currency conversion think about it you ‘d probably want a foundation 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 same with who you’re following now as i say you can actually utilize 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 really search for somebody that you fancy actually following so let’s see maybe we desire someone from unified kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has fulfilled that criteria and it does offer you a risk aspect too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she in fact buying 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 excellent 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 invest in too which is good so actually for me knowing what i like to invest in my private 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 main food companies and you’ve got you know pharmaceutical and production business as that. Etoro Goojibooboo.
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