We get htis a lot on our site the answer to Etoro Vs Gdax Vs Kraken….Questions that i hear from brand-new investors what if you’re brand new to investing you merely 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 number of ways that that can take place the firstly you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course 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 as well now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which of course cfds are ways 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 don’t just presume since 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 consider that option too so you really get used to the structure of the site and then 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 companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row buy these choices because you believe is the ideal ones for you which being said 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 probably.
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popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever 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 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 really crucial you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for actually buying and selling funds or etfs specific products individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission charges are totally free nevertheless there are a number of other fees the first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
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and it’s instantly 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 offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those options that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a cost to bear in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even 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 2 and two free trade anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact providing 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 state give me us dollars instead you need to pay their charges now the terrific thing about however when you’ve converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 costs so that’s actually good utilizing that part of their site will not definitely limit you in any way however we need to know 2 other charges the first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is basically the difference that belongs to the investment platform in between the buy cost and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact means that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current price of tesla is the worth 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 way that 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 buy than it is to offer so they’re going to give you less back with your sale and you say okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread charges it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit cash now the last accomplishment is called an
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over night cost now this is truly important if you’re actually utilizing cfds yourself also an over night cost is when you’re not doing that buy sell transaction in the exact same day all right there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which means you’re in fact buying the exact asset instead of using leverage anyway you will not get hit with these fees however these costs are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the assistance area this isn’t the overnight charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some service charges naturally depending upon what you are purchasing too this is on your own so keep that in mind however complete fees are totally within their aid info all right and we talked about as well as free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really utilizing these copy works they don’t have any extra charges on top of the normal charges that
are there now what you need to remember though is these possibly managed by other people totally or in some cases have created portfolios you’ve got a real person doing the management you need to ensure you pick the person that’s right for you much like any line of work this is your monetary properties so we absolutely need to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means 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 need to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money perhaps this is an excellent alternative for you again to test the theories fine you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe have fun with it certainly you may have missed out on gains and losses during that time naturally if you had actually invested your genuine money it enables you to develop self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i mean 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 risk just indicates am i all right with potentially losing a good quantity of this investment or gaining as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the figure 75 people will lose money but that equally indicates they’ll lose eventually in their journey obviously individuals do generate income too and i have actually got videos everything about how you can make sure you are among individuals to in fact earn money but in this circumstance make certain you research your danger level would you be alright providing your cash to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re somebody who isn’t wishing to be that risky don’t select somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too actually quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to really search for someone that you fancy really following so let’s see perhaps we want someone from united kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has met that requirements and it does offer you a risk element too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
keep in mind 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 could make four or minus 50 there’s no 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 verify are you okay with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine really that i invest in too which is great so really for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Etoro Vs Gdax Vs Kraken.
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