We get htis a lot on our site the answer to Etoro Joe Hall….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t wish to decide what you actually wish to invest and you desire somebody to do it for you there’s only a number of ways that that can occur the first off you can employ an investment portfolio manager they’ll normally charge a rather 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 purchase mutual funds specific funds are created 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 also now if you’re brand new to an overall please bear 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 full amount of capital so with anything that you’re learning about please do study the platform do not just presume since 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 money they consider that option as well so you really get utilized 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 naturally your capital is at danger this is investing we’re doing you’re buying genuine companies 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 have to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row purchase these choices because you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
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well-known for it’s the option to see what other traders are doing extraordinary we don’t usually 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 money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial 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 charges involved truly important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then might not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
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there’ll be charges on other parts maybe 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 prior to you really begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually crucial to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling all right so commission charges are complimentary however there are a couple of other charges the first one is withdrawal fees so you can clearly put cash 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 later but when you wish to withdraw your money so you offer your shares you offer your products 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 obviously understanding that i’m going to make certain 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 fees somewhere and withdrawal fees are just among those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a fee to remember the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two 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 want to use their platform go from uk to us then that conversion cost is there what are they actually 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 costs now the terrific feature of however when you’ve transformed your cash 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 implies 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 fees so that’s really excellent using that part of their website will not certainly limit you in any way nevertheless we need to know 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy price and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that actually means that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive 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 occur it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread charges it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit cash now the last feat is called an
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overnight fee now this is truly important if you’re actually utilizing cfds yourself also an overnight fee is when you’re refraining from doing that buy offer deal in the exact same day fine there’s then an over night cost charged and even if you go from the friday to the monday before cruising a weekend cost 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 means you’re in fact buying the precise possession instead of using leverage anyway you won’t get hit with these fees however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the assistance section this isn’t the overnight fees information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some service charges obviously depending upon what you are investing in also this is on your own so keep that in mind however complete charges are completely within their help details fine and we discussed as well as complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever 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 really using these copy functions they do not have any extra costs on top of the regular charges that
are there now what you need to keep in mind though is these possibly managed by other individuals completely or often have actually developed portfolios you have actually got a real person doing the management you need to make certain you choose the person that’s right for you just like any profession this is your financial possessions so we definitely need 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 use this function we’ve got a couple of various choices for us to start with 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 have fun with and it’s not real money that you’re investing you won’t need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash possibly this is a fantastic choice for you again to check the theories alright you may wish to buy tesla or apple or this etf why not use the virtual option as a way to sort 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 real cash it permits you to construct 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 keep in mind prior to you choose 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 indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just means am i okay with potentially losing a great amount of this investment or getting as
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well now remember everything is ups and downs you will earn money 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 obviously individuals do generate income as well and i have actually got videos everything about how you can make certain you’re one of individuals to in fact generate income however in this scenario make sure you research study your danger level would you be fine giving your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re someone who isn’t wanting to be that risky do not select someone who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you may 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 actually use this too truly quickly over here you can copy people now it will give you a great deal of choices and you can use the system to really look for someone that you elegant really following so let’s see perhaps we want somebody from joined kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has satisfied that criteria and it does give you a threat factor also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or predictions 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 other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand 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 in fact 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 certainly like kind of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is good so in fact for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she chooses she’s likewise got a bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production business as that. Etoro Joe Hall.
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