We get htis a lot on our site the answer to When Iota On Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to decide what you really wish to invest and you want someone to do it for you there’s only a number of manner ins which that can occur the first of all you can employ a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific 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 too now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you really get utilized to the structure of the site 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 danger this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has said they’ve made profit 14 months in a row buy these options since you think is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not typically 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 actually state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains 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 understand what are the costs of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero cost sites then might not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 before you in fact begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly important to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling okay so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal costs so you can certainly put money in now if you remain in the uk we put our uk cash.
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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 sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may 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 fees someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms certainly are complimentary 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 6 months you understand depends totally how you’re investing however that is a charge to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent 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 2 open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact offering 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 need to pay their charges now the great feature of though when you have actually converted your cash you do not need to invest it right now 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 purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their site won’t definitely limit you in any way nevertheless we have to understand 2 other charges the first being what’s called spread charges alright and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is basically the distinction that becomes part of the investment platform in between the buy cost 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 means that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer 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 great deal of platforms out there there’s a distinction between if you’re buying it then you want to sell it which is how they make a little bit of cash on those spread out charges it’s generally extremely 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 cash now the last feat is called an
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over night charge now this is truly important if you’re actually using cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell transaction in the very same day all right there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which means you’re really purchasing the precise possession rather than using take advantage of anyhow you won’t get hit with these costs but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you go into the assistance section this isn’t the overnight fees info 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 and that only applies as i said to cfds there are some service charges obviously depending upon what you are buying too this is on your own so keep that in mind however full fees are totally within their help details alright and we talked about in addition to complimentary to deposit in but 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 five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually utilizing these copy functions they don’t have any extra costs on top of the typical charges that
exist now what you require to keep in mind though is these potentially handled by other people completely or in some cases have actually created portfolios you’ve got a genuine individual doing the management you need to ensure you choose the individual that’s right for you similar to any profession this is your monetary possessions so we absolutely need to make sure it’s the best individual for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is an excellent option for you once again to check the theories fine you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it undoubtedly you may have missed out on gains and losses during that time of course if you had invested your real cash it enables you to build self-confidence comprehend the platform so that’s one alternative 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 remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat 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 simply means am i okay with potentially losing a great amount of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly implies they’ll lose eventually in their journey undoubtedly individuals do make money as well and i’ve got videos everything about how you can make sure you’re one of individuals to really generate income however in this situation ensure you research your threat level would you be okay providing your money to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that dangerous do not pick somebody who’s completely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more standard 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 say you can really use this too truly quickly over here you can copy people now it will give you a lot of options and you can utilize the system to in fact search for somebody that you elegant really following so let’s see possibly we want somebody from united kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has satisfied that criteria and it does offer you a risk factor 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 quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another way to in fact deep dive if we click on this person for example 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 rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is excellent so actually for me understanding what i like to invest in 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 prefers she’s also got a bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. When Iota On Etoro.
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