We get htis a lot on our site the answer to Etoro Vs Other….Questions that i speak with new investors what if you’re brand new to investing you just do not wish to choose what you really wish to invest and you want somebody to do it for you there’s just a number of manner ins which that can happen the firstly you can hire an investment portfolio supervisor they’ll typically charge a rather a high premium to do that possibly one or two 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 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 an overall please remember this platform is quite sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that 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 option also so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being stated let’s dive directly in [Music] so 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 don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to obviously 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 absolutely no fee websites then might not charge you for actually buying and selling funds or etfs specific commodities 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 type of charges 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 before you actually begin purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really important to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission costs are free nevertheless there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling 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 ensure that i’m just withdrawing when i absolutely require to now you may state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges 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 mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a charge to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’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 purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually giving 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 say give me us dollars instead you need to pay their charges now the terrific thing about however when you’ve transformed your cash you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or transform 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 truly great utilizing that part of their site will not definitely limit you in any way however we have to be aware of two other charges the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you
on is basically the difference that becomes part of the investment platform in between the buy price and the 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 actually suggests that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread costs is the distinction then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that occur it simply 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 sell it and that is how they make a bit of money on those spread out charges it’s normally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last task is called an
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overnight cost now this is actually essential if you’re actually utilizing cfds yourself as well an overnight cost is when you’re not doing that buy offer transaction in the exact same day fine there’s then an over night fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which means you’re really purchasing the precise asset rather than utilizing utilize anyhow you will not get hit with these fees but these costs are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you go into the aid 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 charges then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some surcharges obviously depending on what you are purchasing as well this is on your own so keep that in mind however full costs are totally within their assistance information okay and we spoke about in addition to totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of in fact using these copy operates they do not have any extra charges on top of the regular costs that
are there now what you need to remember though is these possibly managed by other people completely or often have actually produced portfolios you’ve got a real person doing the management you need to make certain you pick the individual that’s right for you similar to any line of work this is your financial assets so we definitely require to make sure it’s the ideal person for us before 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 genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is a great choice for you again to evaluate the theories alright you might wish to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe play with it undoubtedly you may have missed out on gains and losses during that time of course if you had actually invested your genuine money it enables you to construct 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 individuals 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 sure you comprehend what your risk profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just means am i fine with potentially losing an excellent amount of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally suggests they’ll lose eventually in their journey certainly people do generate income as well and i’ve got videos all about how you can make sure you’re one of the people to actually make money however in this circumstance make sure you research study your risk level would you be fine offering your money to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re buying completely if you’re somebody who isn’t wishing to be that risky do not select someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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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 exact same with who you’re following now as i state you can in fact use this too actually quickly over here you can copy individuals now it will offer you a great deal of options and you can use the system to really look for somebody that you elegant really following so let’s see maybe we desire someone from unified kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has met that requirements and it does give you a danger aspect also 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 people that have rather high returns
bear 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 could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you okay with this and off you go now another method 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 in fact buying 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 certainly like kind of into those blue box and the tech industry she’s got some of mine really that i invest in too which is excellent so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Vs Other.
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