We get htis a lot on our site the answer to Trade Like A Steve Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire someone to do it for you there’s only a number of manner ins which that can occur the to start with you can hire an investment portfolio supervisor they’ll typically charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular 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 too now if you’re brand new to a total please keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you actually get used to the structure of the website and then when you’re ready to use 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 investing in genuine business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they have actually made revenue 14 months in a row purchase these choices because you believe is the best 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 aspect that is probably.
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well-known for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 costs included truly crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge websites then may not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 understand prior to you in fact start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges actually essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling alright so commission fees are totally free nevertheless there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put money 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 later however when you wish to withdraw your money so you sell your shares you sell 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends totally how you’re investing but that is a fee to remember the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge 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 offer me us dollars instead you have to pay their charges now the great thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert 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 really great utilizing that part of their website won’t certainly restrict you in any way however we have to be aware of 2 other charges the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is essentially the distinction that belongs to the investment platform between the buy cost and the list price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact implies 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 once again so the current cost of tesla is the value of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit money now the last feat is called an
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over night cost now this is truly essential if you’re in fact using cfds yourself too an over night cost is when you’re not doing that buy sell deal in the same day fine there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which indicates you’re in fact purchasing the precise asset instead of using take advantage of anyhow you will not get hit with these charges however these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s state if you go into the assistance section this isn’t the over night fees info 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 over night or you’re doing over weekends which just uses as i said to cfds there are some surcharges naturally depending upon what you are buying too this is on your own so keep that in mind but full fees are entirely within their help info alright and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical 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 methods of actually using these copy operates they do not have any additional charges on top of the regular costs that
exist now what you need to bear in mind though is these possibly managed by other individuals completely or sometimes have developed portfolios you’ve got a real individual doing the management you have to make certain you pick the individual that’s right for you much like any line of work this is your financial possessions so we definitely 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 first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however really purchase 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 a great alternative for you again to test the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it certainly you might have lost out on gains and losses throughout that time obviously if you had invested your genuine money it enables you to build 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 actually how to copy people and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i mean 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 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 earn money you’ll lose money that’s why they make the figure 75 individuals will lose cash however that similarly suggests they’ll lose at some point in their journey obviously individuals do earn money as well and i’ve got videos everything about how you can make sure you are among individuals to really make money however in this circumstance ensure you research study your risk level would you be alright providing your cash to somebody else which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous do not pick someone who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 really use this too actually quickly over here you can copy people now it will provide you a lot of options and you can use the system to actually search for somebody that you elegant actually following so let’s see maybe we desire somebody from unified kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually met that requirements and it does provide you a risk element too 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 rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you fine 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 actually deep dive into what is she in fact buying so let’s go 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 market she’s got a few of mine in fact that i purchase too which is good so really for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Trade Like A Steve Etoro.
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