We get htis a lot on our site the answer to When Did I Open My Etoro….Questions that i speak with 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 want somebody to do it for you there’s just a couple of manner ins which that can happen the to start with you can hire an investment portfolio supervisor they’ll usually charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular funds are produced once 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 also now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform do not simply assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you actually get used to the structure of the website and then when you’re ready to use 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 investing in real business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row invest in these choices since you think is the right ones for you which being said let’s dive straight 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 option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they buy they offer whatever they do your money will be imitated 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 also cover is the costs involved truly crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for actually buying and selling funds or etfs individual products individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand prior to you really begin buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with charges actually important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling alright so commission fees are complimentary nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously put money 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 sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a cost to keep in mind the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great 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 great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually giving 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 say offer me us dollars rather you have to pay their fees now the great feature of though when you have actually converted your cash you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website will not certainly restrict you in any way however we have to understand two other fees the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform in between the buy price and the sale price okay 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 value 599 per share in tesla that in fact implies that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the current cost of tesla is the worth of a share what’s called spread fees is the distinction 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 benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a 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 however that’s one place every investment firm will again make a bit cash now the last accomplishment is called an
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overnight charge now this is truly essential if you’re really utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which suggests you’re in fact purchasing the specific possession rather than utilizing take advantage of anyway you will not get hit with these costs however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these fees 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 overnight costs info you can see exactly 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 and that just uses as i said to cfds there are some added fees obviously depending upon what you are buying also this is on your own so keep that in mind however full costs are entirely within their aid details okay and we talked about along with totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of in fact using these copy functions they do not have any extra fees on top of the typical charges that
exist now what you require to remember though is these possibly managed by other people completely or in some cases have developed portfolios you have actually got a genuine person doing the management you need to make certain you choose the individual that’s right for you similar to any kind of work this is your monetary properties so we absolutely require 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 use this function we have actually got a couple of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash 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 really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a terrific option for you again to test the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe have fun with it certainly you may have missed out on gains and losses during that time obviously if you had invested your genuine money it permits you to develop confidence comprehend 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 remember prior to you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i suggest 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 run the risk of simply indicates am i fine with potentially losing a great amount of this investment or getting as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 people will lose money but that equally means they’ll lose at some point in their journey undoubtedly people do generate income as well and i have actually got videos everything about how you can make sure you’re one of the people to actually earn money however in this situation make sure you research your risk level would you be okay providing your cash to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might not desire 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 use this too really quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to really look for someone that you elegant actually following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has fulfilled that requirements and it does provide you a risk aspect also so it tends to be the greater 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 predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four 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 then you understand ask you to verify are you alright with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually purchasing so let’s enter 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 kind of into those blue box and the tech market she’s got some of mine in fact that i buy too which is good so in fact for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s also got a little bit more um of the type of primary food business and you have actually got you know pharmaceutical and production business as that. When Did I Open My Etoro.
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