We get htis a lot on our site the answer to Blockfolio Vs Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t want to choose 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 take place the to start with you can employ a financial investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 an overall please bear in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you actually get used to the structure of the site and after that when you’re ready to utilize your own money 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 genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something since that individual has actually said they have actually made earnings 14 months in a row invest in these choices because you think 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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popular for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for example 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 costs included truly important you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then might not charge you for in fact buying and selling etfs or funds private products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs really important to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling okay so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can clearly put money in now if you remain 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 later on but when you wish to withdraw your money so you sell your shares you sell your commodities 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 understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a fee to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice 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 buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you kind of need 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 actually offering 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 state provide me us dollars rather you need to pay their fees now the fantastic thing about though when you have actually transformed your money 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 preliminary day that you purchase 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 truly great utilizing that part of their site won’t definitely restrict you in any way however we have to understand two other charges the very first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is essentially the difference that is part of the financial 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 website right now tesla’s dollar value 599 per share in tesla that actually implies that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread costs is the distinction 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 small amount of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you say all right well why does that happen 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 want to offer it which is how they make a bit of money on those spread out charges it’s usually 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 bit cash now the last feat is called an
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over night fee now this is truly crucial if you’re in fact utilizing cfds yourself also an overnight cost is when you’re not doing that buy sell transaction in the exact same day all right there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which means you’re actually purchasing the precise property instead of using take advantage of anyhow you won’t get hit with these fees however these costs are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you enter into the help section this isn’t the over night fees details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some service charges obviously depending on what you are investing in as well this is on your own so keep that in mind however full fees are entirely within their help information all right and we talked about as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of actually utilizing these copy functions they don’t have any additional charges on top of the regular costs that
exist now what you require to bear in mind though is these possibly managed by other people entirely or often have actually developed portfolios you’ve got a genuine individual doing the management you have to ensure you select the person that’s right for you similar to any profession this is your financial properties so we definitely need to make certain it’s the right 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 number of various options 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 real money or a virtual platform virtual ways i think 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 basically have this virtual portfolio mimic as if you are using your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is an excellent alternative for you again to check the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it certainly you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it permits you to develop self-confidence comprehend the platform so that’s one option 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 keep in mind before you choose 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 suggest by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk just implies am i okay with possibly losing a good quantity of this financial investment or gaining as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly suggests they’ll lose at some point in their journey clearly people do earn money also and i have actually got videos all about how you can make certain you are among individuals to really make money however in this situation make sure you research study your risk level would you be all right giving your money to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s totally into crypto or currency conversion think of it you ‘d most likely want a backbone of strong commodities
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like gold and even 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 in fact utilize this too truly easily over here you can copy individuals now it will offer you a lot of options and you can utilize the system to really look for someone that you expensive in fact following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has satisfied that requirements and it does provide you a risk aspect as well 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 quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to validate are you alright with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little 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 some of mine actually that i buy too which is good so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s also got a bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production companies as that. Blockfolio Vs Etoro.
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