We get htis a lot on our site the answer to Open Account Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to decide what you really want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can take place the first off you can work with a financial investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 also now if you’re brand new to a total please bear in mind this platform is rather sophisticated you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat 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 people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row buy these choices since you think is the right ones for you which being stated 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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well-known for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their financial 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 charges included truly crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for really buying and selling funds or etfs specific commodities private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 understand before you actually begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees actually important to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other fees the first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 cash so you offer your shares you offer your products whatever you’re offering the minimum quantity 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 definitely 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 fees someplace and withdrawal charges are just among those alternatives 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 largely it can be maybe even once a year when every 6 months you know depends completely how you’re investing but that is a cost to remember the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually offering you in regards to 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 provide me us dollars instead you need to pay their charges now the terrific feature of however when you’ve converted your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their site will not definitely restrict you in any way however we need to know two other charges the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is basically the difference that becomes part of the investment platform between the buy cost 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 right now tesla’s dollar value 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 show you that again so the existing rate of tesla is the worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase 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 occur it simply 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 offer it which is how they make a little bit of money on those spread out fees it’s normally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last feat is called an
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overnight charge now this is actually essential if you’re in fact utilizing cfds yourself as well an over night fee is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which suggests you’re in fact purchasing the specific property instead of using leverage anyhow you will not get hit with these charges but these costs are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you go into the aid area this isn’t the overnight costs info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges 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 surcharges naturally depending upon what you are buying also this is on your own so keep that in mind but full fees are completely within their help information fine and we talked about in addition to complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of in fact using these copy operates they do not have any additional fees on top of the typical charges that
exist now what you need to remember though is these potentially managed by other people totally or in some cases have actually produced portfolios you’ve got a genuine person doing the management you need to ensure you select the individual that’s right for you just like any kind of work this is your monetary properties so we absolutely need to make certain it’s the ideal individual 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 couple of various choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a terrific alternative for you once again to test the theories all right you may want to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe play with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had actually invested your real cash it enables you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real 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 choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i imply 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 simply indicates am i okay with potentially losing a good quantity of this financial investment or gaining as
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well now remember everything 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 equally means they’ll lose at some time in their journey clearly people do generate income also and i’ve got videos everything about how you can ensure you’re one of the people to in fact earn money but in this situation make certain you research your threat level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that risky don’t choose someone who’s entirely into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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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 in fact use this too really easily over here you can copy individuals now it will give you a lot of options and you can use the system to in fact look for somebody that you fancy actually following so let’s see perhaps we want someone from united kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a great amount and i can find everyone who has satisfied that requirements and it does offer you a risk element also 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 resembles 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 way 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 all right with this and off you go now another method 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 really 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 little bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so actually for me understanding what i like to invest in 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 little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production companies as that. Open Account Etoro.
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