We get htis a lot on our site the answer to Goldmoney Vs Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to choose what you actually wish to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can occur the to start with you can work with a financial investment portfolio manager they’ll usually charge a rather 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 developed 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 also now if you’re brand new to an overall please remember this platform is rather sophisticated you can do cfds which of course cfds are methods 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 assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get used 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 naturally your capital is at risk this is investing we’re doing you’re investing in real companies if you select to in this particular 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 just do something because that person has actually stated they have actually made earnings 14 months in a row buy these options because you believe is the best ones for you which being stated 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 most likely.
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well-known for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your money will be imitated 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 actually vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for really buying and selling etfs or funds specific products private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 understand prior to you actually start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees really important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell your products 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those choices that they have a lot of platforms undoubtedly are totally free 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 once every 6 months you understand depends entirely how you’re investing but that is a fee to remember the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there 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 state give me us dollars instead you have to pay their charges now the excellent aspect of though when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash 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 extra costs so that’s actually good utilizing that part of their site will not certainly limit you in any way nevertheless we need to understand two other fees the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy rate 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 implies that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the current cost of tesla is the worth of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that happen 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 wish to sell it and that is how they make a bit of money on those spread costs it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last feat is called an
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over night charge now this is actually crucial if you’re really using cfds yourself as well an over night charge is when you’re not doing that buy sell deal in the very same day okay there’s then an over night fee charged or even 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 actually buying out the etf the stock the product and using time one utilize which indicates you’re actually purchasing the exact asset rather than using take advantage of anyway you won’t get hit with these charges but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s say if you enter into the help section this isn’t the overnight charges info 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 overnight or you’re doing over weekends which only applies as i stated to cfds there are some service charges obviously depending upon what you are buying too this is on your own so keep that in mind but full fees are totally within their assistance info all right and we discussed in addition to totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of really utilizing 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 handled by other people totally or in some cases have actually developed portfolios you have actually got a real person doing the management you need to ensure you choose the person that’s right for you just like any profession this is your financial possessions so we absolutely require to ensure it’s the best individual for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are using your own money but really purchase 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 fantastic option for you again to check the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it certainly you might have lost out on gains and losses throughout that time obviously if you had invested your real cash it enables you to construct confidence understand the platform so that’s one option for you then next week and i’m going to return to my real 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 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 threat profile is now what do i suggest by that undoubtedly 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 implies am i all right with potentially losing an excellent quantity of this investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money but that equally implies they’ll lose at some time in their journey obviously individuals do make money too and i’ve got videos all about how you can make sure you’re one of individuals to really earn money however in this scenario make sure you research study your risk level would you be fine providing your cash to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that risky do not choose someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really use this too really easily over here you can copy individuals now it will offer you a great deal of options and you can use the system to actually look for someone that you elegant in fact following so let’s see maybe we want someone from unified kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has met that criteria and it does provide you a risk aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to validate 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 purchasing 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 excellent to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is good so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production business as that. Goldmoney Vs Etoro.
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