We get htis a lot on our site the answer to Etoro Vs. Charles Schwab….Questions that i speak with new investors what if you’re brand new to investing you simply do not wish to choose what you actually wish to invest and you want someone to do it for you there’s just a number of manner ins which that can take place the firstly you can hire a financial investment portfolio manager they’ll normally charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific 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 also now if you’re brand new to a total please bear in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money 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 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 stated let’s dive straight 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 becomes part of social trading which is one aspect that is most likely.
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popular for it’s the option to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they sell 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 cash in so we’re going to likewise cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 charge websites then might not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs really important to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling fine so commission costs are free however there are a couple of other charges the very first one is withdrawal charges so you can certainly 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 in the future but when you wish to withdraw your cash 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 make sure that i’m only withdrawing when i absolutely need to now you might state all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those alternatives 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 once every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the second fee that i’ve 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 lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 provide me us dollars rather you need to pay their costs now the terrific aspect of though when you’ve transformed your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert 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 great utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform between the buy cost and the sale price okay 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 worth 599 per share in tesla that actually indicates that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing cost of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state alright 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 wish to sell it which is how they make a bit of money on those spread charges it’s usually extremely little it could be a matter of pens matter of cents in there however 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 cost now this is truly important if you’re in fact using cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the very same day fine there’s then an overnight cost charged and even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which indicates you’re in fact purchasing the specific property instead of using take advantage of anyway you won’t get hit with these costs but these fees are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you go into the help area this isn’t the over night costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some service charges obviously depending upon what you are buying also this is on your own so keep that in mind but full charges are completely within their assistance details fine and we discussed in addition to complimentary to deposit in but 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 five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of really using these copy works they don’t have any additional charges on top of the typical charges that
exist now what you require to bear in mind though is these possibly handled by other people totally or often have developed portfolios you have actually got a genuine individual doing the management you need to make certain you choose the person that’s right for you much like any kind of work this is your monetary assets so we definitely require to make certain it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of various alternatives for us firstly 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 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 charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money maybe this is a fantastic choice for you once again to check the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it certainly you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money 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 go back to my real portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember prior to you choose somebody 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 indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just implies am i okay with possibly losing a great amount of this investment or acquiring as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 people will lose cash but that equally means they’ll lose eventually in their journey undoubtedly people do generate income as well and i have actually got videos everything about how you can make sure you are among the people to actually earn money but in this circumstance ensure you research your danger level would you be alright offering your money to someone else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not pick someone who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone 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 very same with who you’re following now as i say you can actually use this too truly quickly over here you can copy individuals now it will offer you a great deal of choices and you can utilize the system to really look for somebody that you expensive in fact following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has actually met that criteria and it does give you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have rather high returns
bear 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 could 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 after that you understand ask you to confirm are you fine with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she really investing in 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 excellent to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is good so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Vs. Charles Schwab.
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