We get htis a lot on our site the answer to Free Alternatives To Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you in fact want to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the to start with you can work with a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are created 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 an overall please remember this platform is rather sophisticated 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 learning about please do study the platform do not just presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you actually get used to the structure of the website and after that 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 threat this is investing we’re doing you’re investing in real business if you select to in this particular video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row invest in these options since you think is the right 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 aspect that is most likely.
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famous for it’s the option to see what other traders are doing incredible we do not 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 cash we can actually state i wish to do exactly 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 money will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really critical you comprehend 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 zero cost websites then may not charge you for really buying and selling etfs or funds specific commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 prior to you really start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly essential to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission costs are free however there are a couple of other costs the very first one is withdrawal fees so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling 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 need to now you may say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those options that they have a lot 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 as soon as every 6 months you know depends totally how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that suits 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 great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually providing you in terms of 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 state offer me us dollars instead you have to pay their charges now the great aspect of though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert 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 excellent utilizing that part of their site will not certainly limit you in any way nevertheless we have to know two other costs the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform between the buy rate and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that in fact indicates that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate 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 find this everywhere this is another way that they make a percentage of benefit from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state okay well why does that happen it just 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 offer it which is how they make a little bit of money on those spread costs it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last task is called an
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over night cost now this is really important if you’re in fact utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy offer deal in the very same day alright there’s then an over night charge charged or even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re really buying the specific asset instead of using take advantage of anyway 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 fees if you’re not buy selling in the same day so let’s say if you enter into the help area this isn’t the over night costs information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only uses as i stated to cfds there are some surcharges of course depending upon what you are buying as well this is on your own so keep that in mind but complete fees are entirely within their assistance information alright and we spoke about along with free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever 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 different ways of really utilizing these copy works they do not have any additional charges on top of the typical fees that
are there now what you require to remember though is these potentially managed by other individuals completely or sometimes have produced portfolios you have actually got a real person doing the management you need to make certain you choose the person that’s right for you similar to any profession this is your monetary assets so we absolutely need to make sure it’s the ideal 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 have actually got a couple 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 alternative to invest genuine money or a virtual platform virtual ways 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 need to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are using your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money possibly 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 use the virtual choice as a method to kind of safe play with it certainly you may have lost out on gains and losses during that time obviously if you had actually invested your real money it enables you to construct self-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 actually how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone 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 clearly 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 just implies am i okay with potentially losing a great quantity of this investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally implies they’ll lose at some point in their journey obviously individuals do make money too and i’ve got videos all about how you can make sure you are among individuals to in fact generate income however in this circumstance ensure you research study your threat level would you be all right providing your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re buying fully if you’re someone who isn’t wanting to be that risky don’t choose someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 use this too actually easily over here you can copy individuals now it will provide you a lot of choices and you can use the system to in fact look for someone that you fancy actually following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has actually fulfilled that requirements and it does give you a danger factor also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
remember 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 could make four or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to confirm are you all right with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine really that i invest in too which is great so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production companies as that. Free Alternatives To Etoro.
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