We get htis a lot on our site the answer to Trading On Gdax Vs Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you simply do not want to decide what you really want to invest and you want someone to do it for you there’s only a couple of manner ins which that can take place the first of all you can work with an investment portfolio manager they’ll normally charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 as well now if you’re brand new to an overall please keep in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not simply assume since i utilize 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 consider that option too so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously 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 earnings 14 months in a row buy these options because you think is the ideal ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means 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 fees included truly important 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 buying the selling for you there’s going to be charges involved and even some of the absolutely no cost websites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges really crucial to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling okay so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal fees so you can clearly 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 however when you want to withdraw your cash so you sell your shares you sell 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might say fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the second 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 and that’s great that matches 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 good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really giving 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 state offer me us dollars rather you have to pay their costs now the great thing about however when you’ve transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase 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 good using that part of their site will not certainly limit you in any way however we have to be aware of 2 other costs the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform between the buy rate and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually means that when you want to sell 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 cost of tesla is the value of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase 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 difference in between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread fees it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last feat is called an
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over night charge now this is actually essential if you’re really using cfds yourself as well an over night fee is when you’re not doing that buy sell deal in the very same day alright there’s then an overnight fee charged and even if you go from the friday to the monday before 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 take advantage of which suggests you’re actually buying the exact asset instead of utilizing utilize anyhow you won’t get hit with these charges but these costs are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you go into the assistance area this isn’t the over night costs information you can see exactly 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 service charges of course depending upon what you are buying also this is on your own so keep that in mind however full costs are totally within their help info alright and we discussed along with totally free 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 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of in fact using these copy works they don’t have any additional fees on top of the regular costs that
are there now what you need to bear in mind though is these possibly managed by other individuals completely or often have actually created portfolios you’ve got a genuine individual doing the management you have to make sure you choose the individual that’s right for you similar to any profession this is your monetary assets so we absolutely need to ensure 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 couple of various options for us firstly 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 methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate 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 maybe this is a terrific alternative for you again to test the theories fine you may want to purchase tesla or apple or this etf why not use the virtual choice as a way to sort of safe play with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had invested your genuine cash it permits you to build self-confidence comprehend the platform so that’s one option 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 individuals and copy portfolios now here’s something to remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i alright with possibly losing a good amount of this financial investment or getting 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 people will lose money however that equally implies they’ll lose at some time in their journey obviously individuals do make money as well and i have actually got videos everything about how you can make certain you are among individuals to actually generate income however in this scenario make sure you research your threat level would you be okay offering your money to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s completely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 actually use this too actually easily over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to really search for someone that you elegant actually following so let’s see perhaps we want somebody from joined kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has actually met that requirements and it does give you a risk 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 variety of people that have rather 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 simple as clicking the copy button and off you go and then you understand ask you to validate are you all right with this and off you go now another method to really 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 investing in 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 great to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is great so actually for me understanding what i like to buy 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 prefers she’s also got a little bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Trading On Gdax Vs Etoro.
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