We get htis a lot on our site the answer to Fifo Vs Lifo Etoro Tax….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to choose what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can take place the firstly 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 profits will go to them the other thing is obviously you can buy mutual funds particular funds are created 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 innovative you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out 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 play around with it even invest with virtual money they give that alternative too so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row buy these choices due to the fact that you think is the best 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 element that is most likely.
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well-known for it’s the alternative to see what other traders are doing amazing 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 means with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with costs actually important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission fees are complimentary however there are a couple of other fees the first one is withdrawal fees so you can obviously put cash 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 later but when you wish to withdraw your cash so you sell your shares you offer 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 make certain that i’m just withdrawing when i absolutely require to now you may state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing however that is a charge to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase 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 or 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 two and 2 free trade anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact providing you in terms of 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 feature of however when you have actually transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great utilizing that part of their site will not certainly restrict you in any way however we need to know 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is basically the difference that is part of the investment platform between the buy price 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 site today tesla’s dollar worth 599 per share in tesla that in fact means that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the present price of tesla is the worth of a share what’s called spread fees is the distinction then in fact 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 benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction 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 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 bit money now the last accomplishment is called an
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over night fee now this is really important if you’re actually using cfds yourself also an overnight charge is when you’re not doing that buy offer transaction in the exact same day fine there’s then an overnight cost charged or even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re really purchasing the specific asset rather than using leverage anyhow you will not get hit with these fees but these charges are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you enter into the assistance section this isn’t the over night charges information you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends which only applies as i said to cfds there are some surcharges of course depending on what you are purchasing also this is on your own so keep that in mind however full charges are completely within their aid information okay and we talked about along with totally free to deposit in however there’s a five dollar charge if you want 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 stated copy trading and copy portfolios are two different ways of in fact utilizing these copy works they do not have any extra fees on top of the normal costs that
exist now what you need to keep in mind though is these possibly handled by other individuals totally or sometimes have actually developed portfolios you’ve got a genuine person doing the management you need to make sure you select the individual that’s right for you similar to any kind of work this is your financial assets so we definitely need to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a great option for you again to test the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual option as a method to type of safe have fun with it undoubtedly you may have missed out on gains and losses throughout that time of course if you had invested your genuine cash it permits you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to bear in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i indicate by that obviously 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 alright with potentially losing a great quantity of this investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 people will lose cash but that equally implies they’ll lose at some point in their journey obviously people do generate income too and i’ve got videos all about how you can make certain you are among the people to actually make money but in this situation make sure you research your threat level would you be okay providing your cash to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that risky do not select someone who’s completely into crypto or currency conversion consider 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 very same with who you’re following now as i state you can in fact utilize this too truly easily over here you can copy people now it will offer you a great deal of choices and you can utilize the system to in fact look for someone that you expensive really following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has satisfied that requirements and it does provide you a danger aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to ensure 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 all right with this and off you go now another method to actually 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 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 bit so that’s excellent to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is excellent so in fact for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the type of main food business and you’ve got you know pharmaceutical and production business as that. Fifo Vs Lifo Etoro Tax.
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