We get htis a lot on our site the answer to Etoro In New York….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not wish to choose what you in fact want to invest and you want somebody to do it for you there’s just a couple 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 perhaps a couple of percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are produced 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 keep in mind this platform is quite 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 due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made profit 14 months in a row purchase these choices because you think is the ideal ones for you which 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 most likely.
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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 lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be simulated 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 cash in so we’re going to also cover is the costs included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 some of the absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering 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 in fact begin purchasing copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with charges truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can obviously put cash in now if you’re 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 in the future but when you want to withdraw your money so you offer your shares you sell your products 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 make sure that i’m only withdrawing when i definitely need to now you may state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those alternatives that they have a lot 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 maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a cost to bear in mind the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they actually offering you in regards to 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 instead you need to pay their charges now the fantastic feature of though when you have actually transformed your money you do not need to invest it immediately 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 buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of 2 other fees the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is essentially the difference that becomes part of the investment platform between the buy cost and the price alright 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 in fact implies that when you wish to sell or purchase as you can see it’s not the rate 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 charges is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you say okay 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 bit of money on those spread out fees it’s usually 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 task is called an
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overnight cost now this is really important if you’re really utilizing cfds yourself also an over night fee is when you’re not doing that buy sell transaction in the same day all right there’s then an overnight charge charged and 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 really buying out the etf the stock the product and utilizing time one leverage which implies you’re in fact purchasing the specific asset instead of using utilize anyhow you won’t get hit with these costs however these fees are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you go into the assistance section this isn’t the overnight costs 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 overnight or you’re doing over weekends which just applies as i stated to cfds there are some surcharges naturally depending upon what you are investing in also this is on your own so keep that in mind however full costs are entirely within their aid info alright and we talked about in addition to free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal 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 methods of really using these copy operates they do not have any extra charges on top of the normal charges that
exist now what you need to keep in mind though is these possibly managed by other people totally or sometimes have created portfolios you’ve got a real individual doing the management you have to make certain you choose the individual that’s right for you much like any kind of work this is your monetary possessions so we absolutely need to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various choices 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 money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are using your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a terrific option for you once again to check the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it clearly you may have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to develop self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return 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 keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i alright 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 generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that equally means they’ll lose at some time in their journey obviously people do earn money as well and i’ve got videos all about how you can make certain you’re one of the people to actually make money however in this scenario make sure you research study your threat level would you be all right providing your money to somebody else which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not choose somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold and even 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 say you can really utilize this too really quickly over here you can copy individuals now it will provide you a lot of options and you can utilize the system to in fact search for somebody that you expensive actually following so let’s see possibly we want someone from united kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has satisfied 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 number of individuals that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure 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 validate are you all right with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she really buying so let’s enter 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 know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production business as that. Etoro In New York.
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