We get htis a lot on our site the answer to Cryptocompare Vs Etoro….Concerns that i speak with new financiers what if you’re brand new to investing you merely don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first of all you can employ an investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds specific 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 bear in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you actually get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re discussing 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 just do something because that person has actually said they’ve made earnings 14 months in a row invest in these options since you believe is the best ones for you and that being stated let’s dive directly 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 most likely.
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well-known for it’s the option to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests 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 involved really vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing 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 commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 understand before you actually begin buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission fees are free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can clearly put cash in now if you’re 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 in the future but when you wish to withdraw your money so you offer your shares you offer 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing however that is a charge to keep in mind the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that suits 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 charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really giving you in terms of 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 instead you have to pay their fees now the great thing about though when you’ve converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy 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 really good using that part of their website won’t definitely limit you in any way however we need to be aware of two other costs the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you
on is essentially the difference that is part of the financial investment platform in between the buy cost and the list price fine 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 in fact suggests that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing price of tesla is the value of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction 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 out fees it’s typically extremely little 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 money now the last task is called an
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over night cost now this is truly important if you’re actually utilizing cfds yourself too an over night cost is when you’re not doing that buy sell transaction in the very same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re really purchasing the precise property instead of utilizing leverage anyhow you won’t get hit with these fees however these charges are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you go into the aid area 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 fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some additional charges naturally depending on what you are investing in as well this is on your own so keep that in mind but complete fees are completely within their assistance information okay and we discussed in addition to free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of in fact using these copy functions they don’t have any additional charges on top of the typical costs that
exist now what you need to remember though is these possibly handled by other individuals entirely or sometimes have produced portfolios you’ve got a real individual doing the management you need to make sure you select the individual that’s right for you much like any type of work this is your monetary possessions so we absolutely require to make sure 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 real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is an excellent choice for you once again to evaluate the theories fine you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe play with it obviously you may have missed out on gains and losses throughout that time obviously if you had actually invested your genuine cash it allows you to build confidence understand 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 keep in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean by that undoubtedly 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 potentially losing a good amount of this financial investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally indicates they’ll lose at some point in their journey obviously people do make money as well and i’ve got videos all about how you can make certain you’re one of individuals to in fact earn money but in this situation make sure you research study your threat level would you be okay offering your money to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you might 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 use this too really easily over here you can copy individuals now it will give you a great deal of options and you can utilize the system to actually look for somebody that you expensive actually following so let’s see possibly we want someone from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has actually satisfied that requirements and it does give you a threat element also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest somebody 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 simple as clicking the copy button and off you go and after that you understand ask you to verify are you okay with this and off you go now another method 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 purchasing so let’s enter 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 definitely like kind of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is excellent so really for me knowing what i like to buy 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 sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Cryptocompare Vs Etoro.
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