We get htis a lot on our site the answer to Open Trades Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply do not want to decide what you really want to invest and you desire someone to do it for you there’s only a number of ways that that can happen the firstly you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific 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 rather innovative you can do cfds which obviously cfds are ways 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 simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row buy these options since you believe is the ideal ones for you which being said 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 probably.
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famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 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 likewise cover is the costs involved actually vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for actually buying and selling etfs or funds individual commodities individual 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 reveal you the charges with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs actually essential to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission charges are totally free nevertheless there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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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 money so you offer your shares you sell your commodities 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say fine 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 undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends completely how you’re investing but that is a fee to bear in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two 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 want to utilize their platform go from uk to us then that conversion fee is there what are they in fact 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 say offer me us dollars rather you have to pay their costs now the fantastic thing about though when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of 2 other fees 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 reveal you
on is essentially the difference that becomes part of the financial investment platform between the buy rate 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 site today tesla’s dollar value 599 per share in tesla that really indicates that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present price of tesla is the worth of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy 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 just 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 offer it and that is how they make a little bit of money on those spread charges it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last accomplishment is called an
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overnight cost now this is actually essential if you’re really using cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re in fact purchasing the specific possession rather than using take advantage of anyhow you will not get hit with these fees however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you enter into the assistance area this isn’t the over night costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some additional charges obviously depending upon what you are purchasing also this is on your own so keep that in mind but complete charges are completely within their assistance information fine and we discussed in addition to totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy works they do not have any additional charges on top of the normal costs that
exist now what you need to bear in mind though is these potentially handled by other individuals completely or sometimes have actually produced portfolios you’ve got a genuine person doing the management you have to make sure you select the individual that’s right for you similar to any profession this is your financial assets so we definitely require to make certain it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a number of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun 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 essentially have this virtual portfolio imitate as if you are utilizing your own cash but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is a great option for you again to check the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe have fun with it clearly you may have lost out on gains and losses throughout that time obviously if you had invested your real cash it allows you to develop confidence understand the platform so that’s one option 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 individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply implies am i fine with possibly losing a great quantity of this investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that similarly means they’ll lose at some point in their journey certainly individuals do generate income also and i’ve got videos everything about how you can ensure you are among individuals to in fact earn money however in this circumstance make sure you research study your danger level would you be alright providing your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous do not choose somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too really quickly over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to actually look for somebody that you fancy in fact following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has fulfilled that criteria and it does offer 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 undoubtedly there are a number 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 imply somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to validate 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 in fact 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 little bit so that’s great to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is great so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech companies 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 have actually got you understand pharmaceutical and production business as that. Open Trades Etoro.
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