We get htis a lot on our site the answer to Profchart Etoro….Questions that i speak with new investors what if you’re brand new to investing you merely don’t want to decide what you really wish to invest and you want someone to do it for you there’s only a couple of manner ins which that can happen the first off you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds specific funds are produced 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 an overall please bear in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you really get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row purchase these options because you think is the right 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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popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your cash will be mimicked 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 money in so we’re going to also cover is the charges involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 zero cost websites then might not charge you for really buying and selling etfs or funds private commodities private 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 type of charges 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 know prior to you actually begin buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really essential to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission fees are totally free however there are a couple of other charges the very first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk money.
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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 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 knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those choices that they have a great deal of platforms certainly are totally 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 six months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
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a great deal 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 use anyone so if you’re using trading two and two open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they really providing you in regards to 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 give me us dollars rather you need to pay their costs now the great aspect of however when you’ve converted 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 indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the 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 worth 599 per share in tesla that really implies 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 cost of tesla is the value of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you state all right well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction 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 out fees it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last task is called an
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over night charge now this is actually important if you’re actually utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy sell deal in the same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one utilize which indicates you’re really purchasing the exact property instead of using leverage anyhow you will not get hit with these fees however these fees are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you enter into the help area this isn’t the overnight costs details you can see precisely 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 just uses as i stated to cfds there are some service charges of course depending upon what you are buying too this is on your own so keep that in mind but complete costs are completely within their assistance information fine and we spoke about in addition to free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of actually using these copy functions they do not have any extra charges on top of the typical costs that
exist now what you require to bear in mind though is these potentially handled by other people totally or in some cases have actually produced portfolios you have actually got a real individual doing the management you have to make certain you select the person that’s right for you similar to any line of work this is your monetary assets so we definitely need to ensure 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 couple of various options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods 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 require to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash possibly this is a terrific choice for you once again to test the theories fine you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to kind of safe have fun with it clearly you might have missed out on gains and losses during that time of course if you had actually invested your genuine cash it enables you to build confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to remember before you pick someone 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 obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just suggests am i alright with possibly losing an excellent amount of this investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 people will lose money but that similarly implies they’ll lose eventually in their journey obviously people do generate income too and i have actually got videos everything about how you can make sure you’re one of individuals to in fact generate income however in this situation make sure you research your danger level would you be fine giving your cash to another person 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 do not select someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too truly quickly over here you can copy individuals now it will give you a lot of choices and you can use the system to in fact look for someone that you expensive really following so let’s see possibly we want someone from joined kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has actually met that requirements 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 number of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact 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 great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine actually that i invest in too which is great so actually 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 seems to be what she prefers she’s also got a bit more um of the kind of primary food companies and you have actually got you know pharmaceutical and production companies as that. Profchart Etoro.
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