We get htis a lot on our site the answer to Etoro Vs Square Cash….Questions that i hear from brand-new investors what if you’re brand new to investing you merely do not want to choose what you really wish to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can take place the first of all you can hire an investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can buy mutual funds particular 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 a total please bear in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option too so you actually 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 of course your capital is at danger this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row invest in these options because you believe is the best ones for you which being stated let’s dive straight 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 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 normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your money 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 likewise cover is the charges included actually crucial you understand what are the costs 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 sites then might not charge you for in fact buying and selling funds or etfs specific commodities specific 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 type of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges really important to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a number of other costs the first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk money.
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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 want to withdraw your cash so you sell 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 make sure that i’m only withdrawing when i definitely require to now you might state 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 fees somewhere and withdrawal costs are just among those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase 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 buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving 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 say give me us dollars instead you need to pay their charges now the excellent thing about though when you’ve transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their website won’t definitely restrict you in any way however we need to know 2 other fees the first being what’s called spread charges all right 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 distinction that belongs to the financial investment platform in between the buy price and the sale price all right it’s their premium on doing both those two 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 in fact means that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing price of tesla is the worth of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell 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 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 little bit of money on those spread out fees it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit money now the last accomplishment is called an
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overnight fee now this is really important if you’re in fact utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before 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 take advantage of which means you’re really purchasing the exact asset instead of using leverage anyhow you won’t get hit with these charges but these fees are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the assistance section this isn’t the overnight fees information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that just uses as i said 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 complete costs are entirely within their assistance info okay and we talked about along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of actually using these copy operates they don’t have any additional costs on top of the normal costs that
exist now what you need to remember though is these possibly handled by other individuals entirely or sometimes have produced portfolios you’ve got a real person doing the management you have to make certain you select the person that’s right for you similar to any kind of work this is your monetary assets so we definitely require to make sure it’s the best individual 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 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 option to invest genuine cash or a virtual platform virtual means i believe 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 basically have this virtual portfolio simulate as if you are using your own cash but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a great choice for you once again to evaluate the theories all right you may wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it clearly you may have missed out on gains and losses throughout that time naturally if you had actually invested your real money it allows 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 genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i mean by that obviously 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 indicates am i alright with possibly losing a great quantity of this investment or gaining as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly implies they’ll lose eventually in their journey certainly individuals do earn money too and i have actually got videos everything about how you can ensure you are among individuals to really earn money however in this circumstance make sure you research your risk level would you be okay giving your money to another person which is successfully what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous do not select somebody 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 even oil plus more traditional 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 use this too truly easily over here you can copy individuals now it will offer you a lot of choices and you can use the system to really look for somebody that you fancy really following so let’s see possibly we desire someone from united kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has satisfied that requirements and it does offer you a danger factor as well 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 quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not indicate 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 easy as clicking the copy button and off you go and after that 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 on this person for example ruby mza as an example you can actually deep dive into what is she really buying so let’s go 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 know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is excellent so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s also got a bit more um of the type of main food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Vs Square Cash.
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