We get htis a lot on our site the answer to Etoro Money App….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not want to choose what you really 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 to start with you can work with a financial investment portfolio manager they’ll normally charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally you can buy 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 remember this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply presume since 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 give that choice as well so you in fact get used to the structure of the site and then when you’re ready to utilize your own money 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 buying real companies if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something because that person has actually said they’ve made earnings 14 months in a row buy these choices since you think is the right ones for you which being said let’s dive directly 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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famous for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates 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 likewise cover is the costs involved actually critical you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business 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 fee websites then may not charge you for actually buying and selling etfs or funds individual products specific stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 know prior to you in fact start buying copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly crucial to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission costs are totally free however there are a couple of other costs 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 cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum amount 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 definitely require to now you may say alright that’s quite 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 charges are just one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine 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 or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really offering you in regards to 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 give me us dollars rather you have to pay their charges now the great feature of however when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means 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 fees so that’s actually excellent using that part of their website won’t certainly restrict you in any way however we need to be aware of 2 other fees the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform between the buy cost and the list 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 worth 599 per share in tesla that really suggests that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover 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 clearly it’s more costly 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 just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a bit of money on those spread costs it’s normally exceptionally small it could be a matter of pens matter of cents in there but 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 cost now this is really essential if you’re in fact utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which implies you’re in fact buying the exact possession instead of utilizing take advantage of anyway you won’t get hit with these fees but 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 offering in the exact same day so let’s state if you go into the assistance section this isn’t the overnight costs 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 and that only uses as i stated to cfds there are some additional charges of course depending upon what you are buying too this is on your own so keep that in mind however complete costs are completely within their help info alright and we spoke about along with free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of in fact utilizing these copy works they do not have any additional fees on top of the normal fees that
are there now what you require to remember though is these potentially managed by other individuals entirely or often have actually created portfolios you have actually got a real person doing the management you have to make sure you pick the person that’s right for you just like any profession this is your financial assets so we definitely need to make certain it’s the best 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’ve got a couple of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is a fantastic alternative for you once again to check the theories alright you may want to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe have fun with it obviously you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it permits you to build confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine 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 select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i alright with potentially losing a good amount of this investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money however that similarly means they’ll lose at some time in their journey undoubtedly individuals do make money too and i have actually got videos all about how you can make sure you are among the people to really make money but in this circumstance make certain you research your risk level would you be alright providing your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying totally if you’re someone who isn’t wishing to be that dangerous don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more standard 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 state you can really use this too really quickly over here you can copy individuals now it will give you a lot of choices and you can utilize the system to actually search for somebody that you fancy in fact following so let’s see perhaps we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has met that requirements and it does provide you a danger factor as well 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 people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might make four 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 understand ask you to verify are you alright with this and off you go now another way to in fact 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 really purchasing 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 good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is excellent so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a little bit more um of the kind of primary food business and you have actually got you know pharmaceutical and production business as that. Etoro Money App.
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