We get htis a lot on our site the answer to I Hate Steve And Dave Use Etoro….Questions that i hear from new investors what if you’re brand new to investing you merely don’t wish to decide what you in fact wish to invest and you desire somebody to do it for you there’s just a number of ways that that can take place the to start with you can work with a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific 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 too now if you’re brand new to a total please bear in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option as well so you really get used to the structure of the site 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 risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the best ones for you and that 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 element that is most likely.
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popular for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests 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 fees involved truly crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine companies 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 absolutely no charge sites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with charges really essential to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling alright so commission charges are totally free nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously 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 later but when you wish to withdraw your money so you sell your shares you sell your products 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 only withdrawing when i absolutely need to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those options that they have a great deal of platforms certainly are complimentary 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 when every 6 months you know depends entirely how you’re investing however that is a charge to remember the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say provide me us dollars rather you need to pay their charges now the excellent feature of though when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent using that part of their website won’t definitely limit you in any way however we have to know two other charges 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 becomes part of the financial investment platform between the buy price 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 really implies that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present rate of tesla is the worth of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you say all right well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to offer it and that is how they make a bit of cash on those spread fees it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit money now the last accomplishment is called an
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overnight fee now this is really essential if you’re in fact using cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell transaction in the very same day okay there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which indicates you’re in fact buying the exact asset rather than using utilize anyhow you will not get hit with these fees however these fees are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you go into the aid section this isn’t the overnight charges details you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some additional charges naturally depending upon what you are purchasing also this is on your own so keep that in mind but full charges are totally within their assistance information all right and we discussed along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of actually using these copy functions they do not have any additional charges on top of the typical costs that
are there now what you need to keep in mind though is these potentially handled by other people entirely or often have actually produced portfolios you’ve got a real individual doing the management you need to make sure you choose the person that’s right for you just like any kind of work this is your financial properties so we absolutely need to make certain 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 use this function we’ve got a couple of various options for us to start with 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 ways 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 require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent option for you again to check the theories alright you might wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it undoubtedly you might have missed out on gains and losses during that time of course if you had invested your genuine money it permits you to build 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 really how to copy people and copy portfolios now here’s something to bear in mind prior to you choose somebody 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 indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of just implies am i fine with possibly losing a great amount of this investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that equally indicates they’ll lose eventually in their journey obviously individuals do make money also and i have actually got videos everything about how you can ensure you are among the people to in fact make money but in this scenario make certain you research your risk level would you be okay offering your money to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re buying completely if you’re somebody who isn’t wishing to be that risky don’t select someone who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you may not desire 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 use this too really easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to actually look for somebody that you fancy actually following so let’s see possibly we want somebody from joined kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a good amount and i can find everyone who has actually met that requirements and it does provide you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to verify are you all right with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i invest in too which is great so really 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 also got a little bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. I Hate Steve And Dave Use Etoro.
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