We get htis a lot on our site the answer to Coinomi Vs Etoro….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply do not wish to decide what you in fact want to invest and you desire someone to do it for you there’s just a couple of manner ins which that can occur the to start with you can employ an investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are created 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 as well now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which naturally cfds are methods 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 just presume because 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 alternative as well so you in fact 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 obviously your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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well-known for it’s the choice to see what other traders are doing amazing 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 implies with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their financial investment portfolio is 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 actually crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for in fact buying and selling funds or etfs specific products individual 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 costs with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges actually crucial to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling all right so commission charges are free nevertheless there are a number of other charges the first one is withdrawal fees so you can obviously put money in now if you’re 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 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 five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms obviously are 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 once every six months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow 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 anybody so if you’re using trading 2 and two open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee 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 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 excellent thing about however when you’ve transformed 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 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 additional costs so that’s truly excellent using that part of their site will not certainly restrict you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform between the buy cost and the sale price alright it’s their premium on doing both those 2 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 actually means that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the present rate of tesla is the worth of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal 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 cash on those spread out fees it’s usually extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit money now the last accomplishment is called an
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overnight cost now this is truly essential if you’re actually using cfds yourself as well an overnight fee is when you’re refraining from doing that buy sell deal in the exact same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which means you’re in fact purchasing the exact possession rather than utilizing leverage anyway you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you go into the help section this isn’t the over night costs details you can see exactly 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 which just applies as i said to cfds there are some additional charges of course depending upon what you are purchasing as well this is on your own so keep that in mind however full costs are entirely within their assistance info okay and we talked about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product 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 2 various methods of in fact using these copy works they don’t have any additional charges on top of the typical fees that
are there now what you need to bear in mind though is these possibly handled by other individuals entirely or often have actually created portfolios you have actually got a genuine individual doing the management you need to make certain you choose the person that’s right for you much like any line of work this is your financial possessions so we absolutely require to make certain it’s the best person for us prior to 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 first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods 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 information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a fantastic choice for you once again to test the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it clearly you may have lost out on gains and losses throughout that time naturally if you had invested your real money it enables you to build self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i mean by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i fine with possibly losing a great amount 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 fact 75 people will lose money but that similarly suggests they’ll lose eventually in their journey undoubtedly people do make money too and i have actually got videos all about how you can make certain you are among the people to really earn money but in this scenario make certain you research your risk level would you be all right providing your money to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that risky don’t select somebody who’s completely into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too actually easily over here you can copy people now it will give you a great deal of choices and you can use the system to actually look for someone that you expensive really following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has satisfied that criteria and it does provide you a risk element as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not indicate 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 simple as clicking the copy button and off you go and after that you understand ask you to validate are you all right with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can really 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 little bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so actually for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the type of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Coinomi Vs Etoro.
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