We get htis a lot on our site the answer to What Is Etoro Good For….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to choose what you actually want to invest and you want someone to do it for you there’s only a couple of ways that that can take place the first off you can work with an investment portfolio manager they’ll usually charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are developed 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 as well now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not just assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually 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 of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually said 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 which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
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popular for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests 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 likewise cover is the fees included truly vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 really begin buying copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with costs actually essential to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a number of other fees the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say all right 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 costs are just one of those options 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 once every six months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 state give me us dollars instead you need to pay their charges now the fantastic thing about though when you’ve transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies 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 charges so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is generally the difference that belongs to the investment platform between the buy rate and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really implies that when you want to purchase or sell as you can see it’s not the rate 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 fees is the difference then actually to buy that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say okay 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 wish to offer it which is how they make a little bit of money on those spread fees it’s normally extremely small 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 little bit cash now the last task is called an
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overnight charge now this is really essential if you’re really using cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the same day okay there’s then an over night charge charged and even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which implies you’re actually purchasing the specific property rather than utilizing leverage anyway you will not get hit with these charges however these fees 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 state if you enter into the help section this isn’t the overnight costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some additional charges naturally depending upon what you are buying as well this is on your own so keep that in mind however complete charges are entirely within their aid info all right 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 fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of really using these copy functions they don’t have any additional charges on top of the regular fees that
exist now what you need to remember though is these potentially managed by other people totally or sometimes have produced portfolios you’ve got a genuine person doing the management you need to make sure you choose the individual that’s right for you much like any line of work this is your monetary assets so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do want 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 wish 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 money that you’re investing you won’t require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash possibly this is a great choice for you again to check the theories alright you might want to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe have fun with it certainly you may have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it permits you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back 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 bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i suggest by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply implies am i okay with possibly losing a good amount of this financial investment or getting as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that similarly indicates they’ll lose at some time in their journey clearly individuals do make money as well and i have actually got videos all about how you can make sure you’re one of individuals to really generate income but in this circumstance ensure you research your risk level would you be all right giving your cash to another person which is effectively 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 risky don’t select someone who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps 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 really utilize this too really quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to in fact look for someone that you expensive really following so let’s see possibly we want someone from unified kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has actually fulfilled that criteria and it does give you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have rather high returns
bear 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 might 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 then you understand ask you to verify are you all right with this and off you go now another method to really 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 buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is excellent so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. What Is Etoro Good For.
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