We get htis a lot on our site the answer to Mycelium Vs Etoro….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 in fact wish to invest and you want someone to do it for you there’s only a couple of ways that that can take place 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 one or two percent of your earnings 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 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 ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made profit 14 months in a row buy these options because you think is the best ones for you and that 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 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 generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved actually important you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost sites then may not charge you for really buying and selling funds or etfs individual products private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 in fact start investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission fees are totally free however there are a number of other fees the first one is withdrawal fees so you can clearly put money 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 offer 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms clearly 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 six months you know depends completely how you’re investing but that is a charge to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great 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 or even 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 using trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 provide me us dollars rather you have to pay their charges now the fantastic aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good using that part of their site won’t definitely restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform in between the buy price and the sale price fine 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 value 599 per share in tesla that really suggests that when you wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you each time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you say alright well why does that occur 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 cash 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 place every investment firm will once again make a little bit cash now the last feat is called an
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overnight charge now this is really important if you’re really using cfds yourself also an over night cost is when you’re not doing that buy offer transaction in the very same day fine there’s then an overnight cost charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which implies you’re in fact purchasing the precise asset rather than using utilize anyway you won’t get hit with these charges but these costs are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you enter into the aid area this isn’t the overnight fees information you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some additional charges of course depending on what you are investing in also this is on your own so keep that in mind however full fees are totally within their aid details fine and we talked about in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of in fact using these copy works they don’t have any additional costs on top of the typical costs that
exist now what you need to bear in mind though is these possibly managed by other individuals entirely or often have actually developed portfolios you have actually got a genuine individual doing the management you need to make certain you select the person that’s right for you just like any type of work this is your financial properties so we definitely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do want 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 choice to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun 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 simulate as if you are using your own cash but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a terrific alternative for you again to check the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it clearly you might have missed out on gains and losses during that time of course if you had actually invested your real money it allows you to construct confidence comprehend the platform so that’s one choice 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 before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i imply by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just indicates am i all right with potentially losing a good quantity of this investment or acquiring as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that similarly implies they’ll lose at some point in their journey clearly individuals do earn money as well and i have actually got videos all about how you can ensure you are among the people to really earn money however in this scenario make certain you research study your danger level would you be all right offering your cash to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too actually easily over here you can copy individuals now it will give you a lot of options and you can use the system to actually look for somebody that you elegant really following so let’s see maybe we want somebody 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 good amount and i can discover everybody who has actually satisfied that criteria and it does give you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make 4 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 after that you know ask you to confirm are you fine with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine actually that i buy too which is great so actually for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of primary food business and you’ve got you understand pharmaceutical and production business as that. Mycelium Vs Etoro.
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