We get htis a lot on our site the answer to Making A Living Etoro….Questions that i speak with new investors what if you’re brand new to investing you merely do not want to decide what you in fact wish to invest and you want somebody to do it for you there’s just a number of ways that that can take place the firstly you can hire a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are produced once 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 remember this platform is quite innovative 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 finding out about please do study the platform don’t simply presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also 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 naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the right ones for you and that being stated let’s dive directly 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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popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they buy they sell whatever they do your cash will be imitated 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 money in so we’re going to likewise cover is the fees included truly important you comprehend what are the costs of this now with any platform there will be some expense 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 no fee sites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts perhaps 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 costs with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission costs are complimentary however there are a couple of other charges the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling 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 make sure that i’m just withdrawing when i absolutely need to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those choices that they have a lot of platforms clearly are free 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 when every 6 months you understand depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’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 good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there 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 fees now the fantastic thing about however when you’ve transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform 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 actually good utilizing that part of their site will not certainly limit you in any way however we have to know two other costs the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform in between the buy cost and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website today 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 price you’re seeing up here let me show you that again so the current cost of tesla is the worth of a share what’s called spread fees is the distinction then in fact to buy 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 every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you state fine well why does that happen 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 wish to sell it and that is how they make a little bit of money on those spread out costs it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit money now the last feat is called an
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overnight cost now this is truly crucial if you’re actually utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which suggests you’re really buying the exact asset instead of utilizing leverage anyhow 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 costs if you’re not buy offering in the exact same day so let’s say if you enter into the assistance section this isn’t the overnight fees information you can see exactly the breakdown and it’ll tell 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 obviously depending upon what you are investing in as well this is on your own so keep that in mind however full charges are completely within their assistance details all right and we talked about as well as free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really using these copy works they do not have any additional costs on top of the regular costs that
are there now what you require to remember though is these possibly handled by other people entirely or sometimes have actually developed portfolios you’ve got a genuine individual doing the management you need to ensure you select the person that’s right for you much like any profession this is your financial assets so we absolutely require 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’ve got a number of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is an excellent choice for you again to check the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it obviously you might have lost out on gains and losses throughout that time naturally if you had actually invested your real money it permits you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i mean by that obviously 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 run the risk of just suggests am i fine with possibly losing a great amount of this financial investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose money but that similarly implies they’ll lose at some time in their journey clearly individuals do earn money as well and i’ve got videos all about how you can make sure you are among individuals to actually make money but in this circumstance ensure you research your threat level would you be all right giving your money to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wishing to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too truly quickly over here you can copy individuals now it will provide you a great deal of options and you can utilize the system to in fact look for someone that you fancy really following so let’s see perhaps we want someone from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has satisfied that criteria and it does give you a threat element as well 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 individuals 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 mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to verify are you okay 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 actually deep dive into what is she in fact investing in 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 excellent to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is excellent so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production business as that. Making A Living Etoro.
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