We get htis a lot on our site the answer to Move Bit From Gdax To Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t wish to choose what you really want to invest and you desire someone to do it for you there’s just a couple of ways that that can occur the to start with you can work with an investment portfolio manager they’ll normally 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 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 as well now if you’re brand new to an overall please bear in mind this platform is rather innovative you can do cfds which obviously cfds are methods 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 just assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row invest in these options because you believe is the ideal ones for you which being stated let’s dive directly 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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famous for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies 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 sites then may not charge you for actually 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 costs with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling all right so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put money in now if you remain 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 money so you offer your shares you offer your commodities whatever you’re offering the minimum quantity 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 ensure that i’m only withdrawing when i absolutely require to now you might say 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 lot 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 perhaps even once a year once every 6 months you understand depends completely how you’re investing but that is a charge to bear in mind the second cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone 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 cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they really providing 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 offer me us dollars instead you have to pay their fees now the excellent feature of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 additional charges so that’s really great using that part of their website will not definitely limit you in any way nevertheless we have to understand two other fees the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is basically the difference that belongs to the financial investment platform between the buy rate and the list 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 today tesla’s dollar value 599 per share in tesla that in fact implies that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to offer so they’re going to give 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 offer it which is how they make a bit of cash on those spread fees it’s usually extremely 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 little bit money now the last feat is called an
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over night cost now this is truly essential if you’re in fact utilizing cfds yourself also an overnight charge is when you’re not doing that buy offer transaction in the very same day alright there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising 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 leverage which implies you’re in fact buying the precise property rather than using take advantage of anyhow you won’t get hit with these costs but these fees 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 very same day so let’s say if you go into the assistance section this isn’t the overnight fees information you can see precisely 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 and that only applies as i said to cfds there are some additional charges naturally depending upon what you are purchasing too this is on your own so keep that in mind however full charges are totally within their help details all right and we talked about as well as complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of really using these copy operates they don’t have any additional charges on top of the typical charges that
exist now what you need to keep in mind though is these potentially managed by other individuals entirely or in some cases have actually produced portfolios you have actually got a genuine individual doing the management you need to make sure you pick the person that’s right for you similar to any line of work this is your financial possessions so we absolutely require to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money possibly this is an excellent option for you once again to evaluate the theories all right you may want to buy tesla or apple or this etf why not use the virtual alternative as a method to kind of safe play with it obviously you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it allows you to develop confidence comprehend 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 actually how to copy people and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i imply by that clearly 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 means am i alright with possibly losing a good amount of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money but that similarly indicates they’ll lose eventually in their journey clearly people do earn money also and i have actually got videos everything about how you can make sure you’re one of the people to in fact generate income however in this scenario make certain you research study your danger level would you be okay giving your cash to another person which is successfully 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 don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps 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 state you can actually use this too really easily over here you can copy individuals now it will give you a lot of choices and you can use the system to actually look for somebody that you expensive in fact following so let’s see possibly we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has fulfilled that requirements and it does give you a risk element as well so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate someone 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 easy as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another way to really 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 definitely like type of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is great so really for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the kind of main food companies and you’ve got you know pharmaceutical and production companies as that. Move Bit From Gdax To Etoro.
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