We get htis a lot on our site the answer to Asic Knowledge Assessment Questionnaire Answers Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just do not want to decide what you actually wish to invest and you desire someone to do it for you there’s just a couple of ways that that can occur the first of all you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are developed 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 an overall please bear in mind this platform is quite innovative 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 discovering please do study the platform do not just presume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you really 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the right 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
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popular for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies 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 costs involved actually vital 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 purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with fees actually crucial to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission costs are free however there are a number of other charges the very first one is withdrawal fees so you can certainly put cash 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 later on but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state alright that’s quite pricey 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 just one of those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle 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 though when you’ve converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their website will not certainly restrict you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread fees alright and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is essentially the difference that becomes part of the financial investment platform between the buy cost and the price okay 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 value 599 per share in tesla that actually implies that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread costs is the distinction then actually 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 whenever you do a purchaser’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that happen 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 want to sell it which is how they make a little bit of money on those spread fees it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last task is called an
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overnight fee now this is actually crucial if you’re really using cfds yourself as well an over night fee is when you’re not doing that buy offer transaction in the same day all right there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one take advantage of which implies you’re really buying the specific property rather than utilizing take advantage of anyway you will not get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you go into the assistance section 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 costs then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some additional charges naturally depending on what you are purchasing also this is on your own so keep that in mind however complete costs are totally within their assistance details alright and we talked about in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of actually using these copy operates they don’t have any additional charges on top of the normal fees that
exist now what you need to remember though is these potentially managed by other individuals totally or in some cases have developed portfolios you’ve got a real individual doing the management you need to make sure you choose the person that’s right for you much like any line of work this is your financial assets so we definitely need to make certain it’s the best person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of different choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play 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 however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money perhaps this is a fantastic choice for you once again to evaluate the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to type of safe have fun with it obviously 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 understand the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just indicates am i all right with possibly losing a good amount of this financial investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the figure 75 people will lose money but that similarly means they’ll lose eventually in their journey obviously people do make money as well and i’ve got videos all about how you can make sure you’re one of the people to in fact generate income but in this scenario ensure you research your risk level would you be alright offering your money to another person which is successfully what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wishing to be that risky don’t pick somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really use this too truly easily over here you can copy individuals now it will provide you a lot of options and you can use the system to actually look for someone that you fancy in fact following so let’s see possibly we want someone from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has met that requirements and it does offer you a danger factor also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make four 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 know ask you to verify are you okay with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she in fact 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 good to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent 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 good spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production business as that. Asic Knowledge Assessment Questionnaire Answers Etoro.
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