We get htis a lot on our site the answer to Fees Etoro Vs Gdax….Questions that i hear from new financiers what if you’re brand new to investing you just do not want to choose what you actually want to invest and you want someone to do it for you there’s only a couple of ways that that can occur the to start with you can work with a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 sophisticated you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row purchase these options since you think is the right ones for you which being said let’s dive straight in [Music] 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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well-known for it’s the choice to see what other traders are doing amazing we don’t typically 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 in fact state i wish to do precisely what that trader is doing or match that exact portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that means if for instance 10 of their financial 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 charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real 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 zero charge sites then may not charge you for really buying and selling funds or etfs private products private stocks.
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there’ll be charges on other parts perhaps 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 reveal you the fees with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges really essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission costs are totally free however there are a number of other charges the 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 immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering 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 make sure that i’m only withdrawing when i absolutely require to now you might state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two open market anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 instead you have to pay their costs now the excellent thing about however when you have actually converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good utilizing that part of their site won’t certainly limit you in any way however we need to know two other charges the very first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the investment platform in between the buy price and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually means that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost 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 all over this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind certainly 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 say 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 want to sell it which is how they make a bit of money on those spread out fees it’s generally extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last accomplishment is called an
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over night charge now this is actually crucial if you’re in fact using cfds yourself as well an over night charge is when you’re not doing that buy sell deal in the very same day alright there’s then an over night fee charged and even if you go from the friday to the monday before sailing a weekend charge 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 means you’re really purchasing the specific possession rather than utilizing leverage anyway you will not get hit with these charges however these fees are if you’re utilizing utilize and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the help section this isn’t the overnight costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some surcharges obviously depending upon what you are purchasing as well this is on your own so keep that in mind however full costs are entirely within their assistance info okay and we spoke about along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of really using these copy works they do not have any extra fees on top of the typical costs that
exist now what you require to remember though is these possibly managed by other people entirely or often have actually developed portfolios you’ve got a genuine person doing the management you need to make certain you pick the individual that’s right for you just like any profession this is your financial properties so we definitely need to make sure it’s the best 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 couple of various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is a terrific alternative for you again to test the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to sort of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had actually invested your real cash it allows you to develop confidence understand 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 in fact 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 ensure you understand what your danger profile is now what do i imply by that certainly 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 simply means am i alright with possibly losing an excellent amount of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly means they’ll lose eventually in their journey obviously people do earn money as well and i’ve got videos all about how you can make sure you’re one of individuals to in fact generate income however in this situation ensure you research your danger level would you be okay giving your money to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wishing to be that dangerous do not select someone who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or even oil plus more standard 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 really utilize this too truly easily over here you can copy people now it will provide you a great deal of choices and you can utilize the system to actually look for someone that you fancy in fact following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has met that criteria and it does offer you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety 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 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can really 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 know ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is good so in fact for me understanding what i like to buy 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 likewise got a little bit more um of the kind of primary food business and you have actually got you understand pharmaceutical and production business as that. Fees Etoro Vs Gdax.
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