We get htis a lot on our site the answer to Etoro Joe….Questions that i speak with brand-new investors what if you’re brand new to investing you simply don’t want to choose what you really 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 of all you can hire a financial investment portfolio manager they’ll typically charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can buy 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 a total please bear in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you in fact get utilized to the structure of the site and then 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 threat this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row buy these choices because you believe is the ideal ones for you which being said let’s dive directly in [Music] so the important 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 element that is probably.
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popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved actually critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost sites then might not charge you for in fact buying and selling funds or etfs private products specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 prior to you really begin investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with charges really important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission charges are totally free however there are a number of other charges the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s automatically 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 products 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 just withdrawing when i absolutely require to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those choices that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends completely how you’re investing but that is a fee to bear in mind the second charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow 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 anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i expect stuck with whatever fee 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 providing 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 provide me us dollars rather you need to pay their charges now the excellent aspect of however when you’ve transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy 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 won’t definitely limit you in any way however we have to be aware of two other fees the very first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is generally the difference that is part of the financial investment platform in between the buy price and the sale price okay 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 in fact indicates that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the value of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread costs it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will 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 using cfds yourself too an overnight cost is when you’re refraining from doing that buy sell deal in the same day all right there’s then an overnight charge charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which suggests you’re actually buying the exact property instead of using utilize anyhow you will not get hit with these fees but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s say if you go into the assistance area this isn’t the overnight charges information 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 over night or you’re doing over weekends which just applies as i stated to cfds there are some surcharges naturally depending upon what you are investing in as well this is on your own so keep that in mind however full charges are entirely within their help information alright and we spoke about as well as totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact using these copy works they do not have any extra costs on top of the regular fees that
exist now what you require to bear in mind though is these potentially managed by other people completely or sometimes have actually produced portfolios you have actually got a genuine individual doing the management you need to make sure you choose the individual that’s right for you just like any type of work this is your monetary properties so we definitely need to ensure it’s the ideal individual 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 number of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a terrific choice for you again to check the theories all right you may want to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe play with it certainly you may have lost out on gains and losses during that time of course if you had actually invested your genuine money it permits you to build self-confidence comprehend the platform so that’s one alternative 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 people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i suggest by that undoubtedly 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 run the risk of simply suggests am i alright with potentially losing a great amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly implies they’ll lose at some time in their journey undoubtedly individuals do generate income as well and i’ve got videos all about how you can make certain you are among the people to really generate income but in this scenario make certain you research study your risk level would you be all right providing your cash to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re buying fully if you’re somebody who isn’t wanting to be that risky do not choose someone who’s completely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact 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 options and you can use the system to actually look for someone that you fancy really following so let’s see maybe we desire somebody from unified kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has actually fulfilled that requirements and it does provide you a risk factor too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number 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 indicate 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 actually deep dive into what is she actually investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so really for me understanding 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 little bit more um of the kind of main food business and you have actually got you know pharmaceutical and production companies as that. Etoro Joe.
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