We get htis a lot on our site the answer to Is Etoro Goodf….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you in fact wish to invest and you desire someone to do it for you there’s just a number of manner ins which that can occur the first off you can employ a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds specific 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 as well now if you’re brand new to a total please keep in mind 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 discovering please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the website and then when you’re ready to utilize your own cash 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 buying real business if you pick to in this particular video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually stated they’ve made profit 14 months in a row buy these choices because you believe is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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popular for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for instance 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 costs included actually important you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero fee sites then may not charge you for actually buying and selling funds or etfs specific products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 understand prior to you really begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually important to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling all right so commission charges are totally free however there are a couple of other charges the first one is withdrawal charges so you can obviously put money in now if you remain 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 however when you want to withdraw your cash so you offer 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms obviously 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 6 months you understand depends entirely how you’re investing however that is a charge to remember the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have 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 really providing 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 state give me us dollars instead you have to pay their costs now the fantastic feature of though when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great using that part of their site will not definitely restrict you in any way nevertheless we need to understand two other costs the very 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 essentially the distinction that belongs to the investment platform between the buy cost 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 actually suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing rate of tesla is the worth of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you state fine well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread out charges it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit money now the last feat is called an
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overnight fee now this is actually essential if you’re actually utilizing cfds yourself as well an overnight fee is when you’re not doing that buy sell deal in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which means you’re actually buying the precise property instead of using utilize anyhow you will not get hit with these charges but these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the assistance area this isn’t the over night charges information you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i said to cfds there are some added fees obviously depending upon what you are investing in also this is on your own so keep that in mind but complete costs are completely within their aid info okay and we spoke about along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal cost 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 don’t have any additional costs on top of the typical fees that
exist now what you require to keep in mind though is these potentially handled by other people completely or in some cases have produced portfolios you have actually got a genuine individual doing the management you have to ensure you pick the person that’s right for you much like any profession this is your financial assets so we definitely require to make certain it’s the best individual 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 couple of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is an excellent option for you again to test the theories alright you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe have fun with it obviously you might have lost out on gains and losses during that time of course if you had invested your genuine cash it allows you to develop self-confidence understand the platform so that’s one option 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 prior to you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i mean by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i alright with possibly losing a good amount of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash however that similarly implies they’ll lose eventually in their journey certainly individuals do earn money as well and i’ve got videos all about how you can ensure you’re one of individuals to really generate income but in this scenario ensure you research your threat level would you be all right offering your cash to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that risky don’t select somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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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 very same with who you’re following now as i say you can really utilize this too really quickly over here you can copy individuals now it will give you a lot of options and you can use the system to in fact search for somebody that you fancy in fact following so let’s see perhaps we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has met that requirements and it does offer you a threat element 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 individuals that have rather high returns
keep in mind it resembles 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 chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you all right with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really purchasing 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 great to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is great so in fact for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s also got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Is Etoro Goodf.
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