We get htis a lot on our site the answer to Is Etoro Legot….Questions that i hear from new investors what if you’re brand new to investing you simply do not wish to choose what you in fact want to invest and you desire somebody to do it for you there’s just a couple of ways that that can occur the to start with you can hire a financial investment portfolio manager 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 naturally 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 too now if you’re brand new to an overall please keep in mind this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that 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 used to the structure of the website 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 purchasing genuine business if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row purchase these choices since you believe is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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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famous for it’s the choice to see what other traders are doing unbelievable 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 really state i wish to do exactly what that trader is doing or match that exact portfolio of options and generally whenever 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 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 involved really crucial you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost websites then might not charge you for actually buying and selling etfs or funds private commodities private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges actually essential to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission charges are complimentary nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously put money 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 want 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those choices 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 largely it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a fee to remember the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually offering 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 say offer me us dollars rather you need to pay their costs now the fantastic feature of however when you have actually transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies 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 fees so that’s truly excellent utilizing that part of their website won’t certainly limit you in any way however we need to know 2 other costs the very first being what’s called spread charges alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy cost and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that really suggests that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing cost of tesla is the value of a share what’s called spread costs is the difference 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 percentage of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread out charges it’s usually extremely little 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 cash now the last task is called an
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over night fee now this is actually essential if you’re really utilizing cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night charge charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one leverage which means you’re actually purchasing the precise asset rather than using leverage anyway you will not get hit with these charges but these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you go into the assistance section this isn’t the overnight charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some surcharges naturally depending upon what you are investing in as well this is on your own so keep that in mind but complete fees are completely within their assistance details alright and we talked about along with totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they do not have any extra charges on top of the typical charges that
exist now what you require to remember though is these possibly handled by other people completely or in some cases have created portfolios you’ve got a genuine person doing the management you need to ensure you choose the individual that’s right for you just like any kind of work this is your monetary assets so we definitely need to make sure it’s the ideal 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 first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is an excellent option for you once again to check the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it undoubtedly you may have missed out on gains and losses during that time naturally if you had actually invested your real money it enables you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i imply 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 risk just means am i alright with potentially losing a good quantity of this financial investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly implies they’ll lose at some time in their journey obviously people do make money too and i have actually got videos all about how you can ensure you are among individuals to in fact make money but in this situation make sure you research your danger level would you be fine providing your money to someone else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that dangerous do not select someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too really 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 expensive really following so let’s see maybe we want someone from joined kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a great amount and i can find everybody who has actually fulfilled that criteria and it does give you a danger element as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to verify are you fine with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is excellent so in fact for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise got a bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. Is Etoro Legot.
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