We get htis a lot on our site the answer to Why Etoro Is Free….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t wish to decide what you actually want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the to start with you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are created 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 also now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which of course cfds are methods 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 assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option also so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has actually said they have actually made earnings 14 months in a row invest in these choices since you believe is the right ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial 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 involved really vital you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 charge websites then might not charge you for in fact buying and selling funds or etfs specific commodities 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 sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you actually start buying copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with charges really essential to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can clearly put money in now if you’re 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 in the future however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists 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 say give me us dollars rather you need to pay their fees now the great thing about though when you have actually converted your money you do not need to invest it right now 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 purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their website won’t certainly restrict you in any way however we have to know two other costs the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform between the buy cost 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 website today tesla’s dollar worth 599 per share in tesla that in fact implies that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that once again so the current price of tesla is the worth of a share what’s called spread fees is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to offer so they’re going to offer 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 difference between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread out charges it’s typically incredibly little 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 task is called an
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over night fee now this is actually essential if you’re in fact using cfds yourself also an over night fee is when you’re not doing that buy offer transaction in the same day all right there’s then an overnight cost charged or even if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which implies you’re really purchasing the specific possession rather than using utilize anyway you will not get hit with these charges however these charges are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you go into the aid area this isn’t the over night charges 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 service charges naturally depending upon what you are investing in also this is on your own so keep that in mind however full charges are completely within their aid information all right and we spoke about in addition to complimentary to deposit in but there’s a 5 dollar charge if you wish 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 two different methods of in fact utilizing these copy operates they don’t have any extra charges on top of the typical costs that
are there now what you need to bear in mind though is these potentially managed by other individuals completely or sometimes have produced portfolios you have actually got a genuine person doing the management you need to make sure you choose the person that’s right for you much like any profession this is your monetary possessions so we definitely need to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple 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 option to invest real cash 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 require to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are using your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a great alternative for you again to test the theories okay you may want to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe have fun with it certainly you might have missed out on gains and losses throughout that time of course if you had invested your real cash it permits you to build self-confidence understand 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 actually how to copy people and copy portfolios now here’s something to bear in mind prior to you choose someone 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 mean by that clearly 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 run the risk of simply indicates am i okay with possibly losing a great amount of this financial investment or gaining as
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well now remember whatever is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose at some time in their journey certainly individuals do generate income as well and i have actually got videos everything about how you can ensure you’re one of the people to actually generate income but in this circumstance ensure you research study your threat level would you be fine providing your money to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too really quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to in fact look for somebody that you fancy really following so let’s see possibly we desire somebody from unified kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everybody who has fulfilled that criteria and it does provide you a threat element as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way 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 verify are you okay with this and off you go now another method to in fact deep dive if we click on this person for instance 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 quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine actually that i purchase too which is good so really for me knowing what i like to invest in my private 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 also got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Why Etoro Is Free.
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