We get htis a lot on our site the answer to Datadash Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to choose what you in fact wish to invest and you want someone to do it for you there’s only a couple of ways that that can happen the first off you can employ an investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 as well now if you’re brand new to an overall please remember this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not really having the full amount 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 utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this specific 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 because that individual has actually said they’ve made revenue 14 months in a row purchase these options because you think is the best ones for you and that being said 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 aspect that is most likely.
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well-known for it’s the alternative to see what other traders are doing incredible 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 implies with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your money will be mimicked 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 included truly vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee sites then may not charge you for really buying and selling funds or etfs individual products specific stocks.
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there’ll be charges on other parts perhaps 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 show you the costs with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually important to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling okay so commission charges are free nevertheless there are a couple 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 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 wish to withdraw your money so you sell your shares you offer your commodities 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 of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say 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 charges are simply among those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing but that is a cost to remember the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’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 perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and say offer me us dollars rather you have to pay their charges now the excellent thing about however when you’ve converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 additional costs so that’s truly excellent using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of two other fees the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy price and the sale price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to offer or purchase 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 value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that happen it simply 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 want to offer it which is how they make a little bit of cash on those spread out costs it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit cash now the last task is called an
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overnight charge now this is actually important if you’re really utilizing cfds yourself too an overnight charge is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night charge charged or even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which suggests you’re in fact buying the specific property instead of using utilize anyhow you will not get hit with these charges however these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you go into the help area this isn’t the over night fees info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some service charges obviously depending on what you are purchasing also this is on your own so keep that in mind but complete costs are totally within their help details okay and we spoke about along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually utilizing these copy functions they do not have any extra charges on top of the normal fees that
are there now what you require to bear in mind though is these potentially handled by other people completely or often have created portfolios you have actually got a genuine person doing the management you have to make certain you pick the individual that’s right for you much like any profession this is your financial properties so we definitely require to make certain it’s the ideal individual 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 different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need 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 in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is a fantastic choice for you again to check the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe have fun with it obviously you may have lost out on gains and losses throughout that time naturally if you had invested your real 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 real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind before you pick someone 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 suggest by that undoubtedly 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 suggests am i all right with potentially losing an excellent amount of this investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash but that similarly means they’ll lose at some time in their journey undoubtedly individuals do generate income as well and i’ve got videos everything about how you can make sure you’re one of the people to in fact make money but in this circumstance ensure you research study your risk level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting 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 products
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like gold and even oil plus more standard etfs and index funds you might not want 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 truly easily over here you can copy people now it will give you a great deal of choices and you can utilize the system to actually look for someone that you expensive really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a great amount and i can find everybody who has met that criteria and it does offer 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 number of people that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not imply somebody 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 confirm are you okay with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually investing in 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 certainly like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is good so really for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production business as that. Datadash Etoro.
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