We get htis a lot on our site the answer to Etoro Openbook Practice Account….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply do not want to choose what you in fact wish to invest and you want someone to do it for you there’s only a number of ways that that can take place the first of all you can hire an investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are created 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 a total please remember this platform is quite advanced you can do cfds which naturally 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 don’t just assume since i utilize it that you can use 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 utilized 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 risk this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re talking about how to copy other individuals’s financial 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 person has stated they’ve made revenue 14 months in a row buy these options since you think is the right ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
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well-known for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for example 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 charges involved really crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost sites then might not charge you for really buying and selling funds or etfs private 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 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 prior to you really begin buying copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly important to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling all right so commission fees are totally free however there are a couple of other costs the very first one is withdrawal fees so you can certainly put cash in now if you remain 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 but when you want 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’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 buying or perhaps some crypto so i’m great 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 2 open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 state offer me us dollars rather you have to pay their charges now the great aspect of however when you’ve 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 suggests the initial 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 additional fees so that’s actually excellent using that part of their site won’t certainly limit you in any way nevertheless we have to understand two other charges the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy price and the list price okay 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 purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread charges is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to sell so they’re going to give 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 distinction between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread out fees it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last accomplishment is called an
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overnight charge now this is really crucial if you’re actually utilizing cfds yourself also an overnight fee is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an over night charge charged or 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 in fact buying out the etf the stock the product and utilizing time one leverage which means you’re in fact buying the precise asset rather than utilizing take advantage of anyway you will not get hit with these costs however these fees are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you go into the aid area this isn’t the overnight costs details 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 just uses as i said to cfds there are some service charges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete fees are completely within their assistance details fine and we talked about as well as complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of actually utilizing these copy functions they do not have any additional charges on top of the typical costs that
exist now what you require to remember though is these possibly managed by other individuals entirely or often have actually produced portfolios you’ve got a real individual doing the management you have to ensure you choose the person that’s right for you similar to any line of work this is your monetary possessions so we absolutely need to make sure it’s the best individual for us before 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 different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual ways 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 charge card details or anything you can basically have this virtual portfolio mimic as if you are using your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a fantastic alternative for you again to check the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe play with it obviously you might have missed out on gains and losses throughout that time naturally if you had invested your genuine money it enables you to develop self-confidence understand the platform so that’s one choice 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 pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i imply by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i okay with possibly losing an excellent quantity of this investment or acquiring 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 figure 75 people will lose cash but that similarly means they’ll lose at some time in their journey certainly individuals do generate income as well and i have actually got videos all about how you can ensure you are among the people to really generate income but in this circumstance make certain you research your threat level would you be all right providing your money to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re buying completely if you’re someone who isn’t wanting to be that risky don’t pick somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional 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 really utilize this too really easily over here you can copy people now it will provide you a great deal of choices and you can use the system to really search for somebody that you elegant in fact following so let’s see maybe we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually satisfied that requirements and it does give you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you okay with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she in fact buying 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 excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is excellent so really for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s also got a bit more um of the type of primary food business and you’ve got you know pharmaceutical and production companies as that. Etoro Openbook Practice Account.
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