We get htis a lot on our site the answer to Why Use Electrum Vs Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely don’t wish to choose what you in fact want to invest and you want someone to do it for you there’s only a number of ways that that can occur the first of all you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are developed 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 too now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s 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 individual has actually stated they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the best ones for you and that being said let’s dive directly in [Music] so 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 element that is probably.
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popular for it’s the choice 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 indicates with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of options and generally every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included really crucial you comprehend 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 purchasing the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for really buying and selling funds or etfs specific commodities individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 know prior to you in fact start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees truly essential to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling all right so commission fees are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing however that is a charge to bear in mind the second charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase 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 good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 give me us dollars instead you need to pay their costs now the fantastic thing about however when you have actually transformed your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates 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 actually excellent using that part of their website will not certainly restrict you in any way however we need to know two other fees the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is essentially the difference that belongs to the investment platform between the buy price and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the current cost of tesla is the value of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread out charges it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit cash now the last accomplishment is called an
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overnight charge now this is actually crucial if you’re in fact using cfds yourself too an over night cost is when you’re refraining from doing that buy sell transaction in the very same day fine there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which implies you’re actually purchasing the precise property rather than using take advantage of anyway you won’t get hit with these charges but these costs are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you enter into the aid area this isn’t the over night charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some surcharges naturally depending upon what you are buying also this is on your own so keep that in mind however full fees are entirely within their help details fine and we discussed 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 regular product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of in fact using these copy works they do not have any extra costs on top of the typical costs that
are there now what you require to keep in mind though is these potentially handled by other people completely or sometimes have actually created portfolios you have actually got a genuine individual doing the management you need to ensure you pick the person that’s right for you just like any kind of work this is your monetary properties so we definitely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine 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 money that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a great choice for you again to check the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it obviously you may have lost out on gains and losses throughout that time naturally if you had actually invested your real money it allows you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i imply by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply means am i all right with potentially losing a good amount of this investment or gaining as
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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally suggests they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can make sure you’re one of the people to really earn money however in this scenario ensure you research your danger level would you be alright providing your cash to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really utilize this too truly quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to actually search for somebody that you elegant in fact following so let’s see maybe we desire somebody from united kingdom um who purchases 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 everyone who has satisfied that criteria and it does give you a danger element too 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 rather high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they could 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 confirm are you all right with this and off you go now another method to actually 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 bit so that’s good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so actually for me knowing what i like to purchase 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 likewise got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Why Use Electrum Vs Etoro.
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