We get htis a lot on our site the answer to Okex Vs Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply do not want to decide what you actually want to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the first off you can hire an investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds specific funds are produced 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 too now if you’re brand new to a total please keep in mind this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you actually get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they’ve made revenue 14 months in a row invest in these options because you think is the right 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 probably.
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well-known for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for example 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 also cover is the charges included really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies 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 zero fee sites then might not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission charges are free however there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell your commodities 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 make sure that i’m just withdrawing when i absolutely need to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those alternatives that they have a lot of platforms undoubtedly are complimentary 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 once every 6 months you understand depends entirely how you’re investing but that is a charge to remember the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’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 buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two open market anybody this is basic 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 want to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 say give me us dollars rather you have to pay their fees now the excellent thing about though when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their website will not definitely restrict you in any way nevertheless we have to be aware of two other fees the very first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you
on is generally the difference that becomes part of the 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 really indicates that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the present rate of tesla is the worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind obviously it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you say alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread charges it’s normally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit money now the last accomplishment is called an
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overnight cost now this is actually crucial if you’re really using cfds yourself too an over night charge is when you’re refraining from doing that buy sell deal in the exact same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which indicates you’re really purchasing the exact property rather than utilizing leverage anyway you will not get hit with these costs however these fees are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you enter into the aid area 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 charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i stated to cfds there are some added fees obviously depending on what you are buying too this is on your own so keep that in mind however full fees are entirely within their aid information fine and we talked about along with complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact using these copy functions they do not have any extra costs on top of the regular charges that
are there now what you require to keep in mind though is these potentially handled by other individuals entirely or often have developed portfolios you’ve got a real individual doing the management you need to make certain you pick the person that’s right for you much like any kind of work this is your financial assets so we absolutely need to ensure it’s the right 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 options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash perhaps this is a fantastic option for you again to test the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe play with it certainly you might have missed out on gains and losses throughout that time obviously if you had actually invested your real money it allows you to develop self-confidence comprehend 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 bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i imply by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply implies am i alright with possibly losing a great amount of this investment or getting as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 people will lose money but that similarly implies they’ll lose at some time in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can make certain you’re one of the people to actually generate income however in this circumstance make sure you research study your danger level would you be fine offering your cash to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous don’t select somebody who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold and 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 actually use this too actually quickly over here you can copy people now it will offer you a great deal of choices and you can use the system to actually look for someone that you expensive actually following so let’s see perhaps we desire someone from unified kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can find everybody who has actually met that criteria and it does provide 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 undoubtedly there are a variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure 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 validate are you alright with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact buying so let’s go 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 know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i buy too which is good so really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production business as that. Okex Vs Etoro.
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