We get htis a lot on our site the answer to Dave Steve Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you simply don’t want to decide what you in fact wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the to start with you can employ an investment portfolio manager 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 of course you can buy mutual funds specific funds are developed 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 as well now if you’re brand new to a total please remember this platform is rather advanced 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 discovering please do study the platform don’t just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you in fact 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 of course your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row purchase 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] 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 aspect that is probably.
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famous for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included truly important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for really buying and selling etfs or funds specific products private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 start investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with charges really crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling alright so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of 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 mainly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve 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 which’s great 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 great 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 standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really offering 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 state offer me us dollars rather you need to pay their fees now the excellent thing about however when you’ve converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial 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 fees so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we have to understand two other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform in between the buy rate and the price fine it’s their premium on doing both those 2 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 means that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you state all right well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference in 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 little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last task is called an
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overnight cost now this is actually crucial if you’re really utilizing cfds yourself too an over night fee is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually buying the specific property instead of utilizing take advantage of anyhow you will not get hit with these fees however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s state if you enter into the assistance section this isn’t the over night charges information 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 uses as i said to cfds there are some additional charges of course depending on what you are investing in as well this is on your own so keep that in mind however full costs are entirely within their help information okay and we discussed in addition to complimentary to deposit in however there’s a five 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 have actually stated copy trading and copy portfolios are two various ways of in fact utilizing these copy works they don’t have any extra fees on top of the regular costs that
are there now what you need to keep in mind though is these potentially managed by other people completely or often have developed portfolios you have actually got a real individual doing the management you need to make sure you select the individual that’s right for you just like any type of work this is your monetary properties so we definitely require to make certain it’s the right person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are using your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a terrific option for you once again to check the theories okay you might want to purchase tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it clearly you might have lost out on gains and losses throughout that time naturally if you had actually invested your genuine cash it permits you to develop 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 before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i imply 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 suggests am i all right with possibly losing a good amount of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 people will lose money but that similarly indicates they’ll lose at some point in their journey undoubtedly individuals do generate income also and i have actually got videos all about how you can ensure you are among individuals to really make money however in this situation make certain you research study your risk level would you be alright offering your money to another person which is successfully what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more conventional 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 really use this too actually easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to actually look for someone that you elegant really following so let’s see perhaps we desire somebody from joined kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has actually fulfilled that criteria and it does offer you a risk factor also 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 individuals that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to confirm are you okay 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 quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is good so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s also got a bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production companies as that. Dave Steve Etoro.
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