We get this a lot on our site the answer to Best Account Manager Etoro….Concerns that i speak with new financiers what if you’re brand new to investing you simply do not wish to choose what you actually wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the first off you can employ a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are developed once 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 rather advanced you can do cfds which of course cfds are ways 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 simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The 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 element that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 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 likewise cover is the costs included really vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 no fee websites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 know prior to you actually begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you offer your products 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those choices 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 once every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or 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 utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 state give me us dollars rather you need to pay their charges now the terrific aspect of however when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase 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 really great utilizing that part of their website will not definitely restrict you in any way however we have to understand 2 other costs the very first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is basically the difference that belongs to the investment platform in between the buy price 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 worth 599 per share in tesla that in fact 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 again so the existing price of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit 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 alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of money on those spread out costs it’s generally exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit money now the last accomplishment is called an
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overnight fee now this is really essential if you’re really using cfds yourself also an over night charge is when you’re not 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 sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re in fact purchasing the exact asset instead of using take advantage of anyway you won’t get hit with these charges however these fees are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you enter into the aid area this isn’t the over night fees info 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 over night or you’re doing over weekends which only uses as i said to cfds there are some surcharges naturally depending on what you are buying also this is on your own so keep that in mind however full charges are totally within their assistance details fine and we talked about along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity 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 2 various methods of really using these copy functions they do not have any extra charges on top of the regular fees that
exist now what you need to keep in mind though is these potentially handled by other individuals entirely or sometimes have actually produced portfolios you have actually got a real person doing the management you need to make sure you pick the individual that’s right for you similar to any kind of work this is your monetary possessions so we absolutely need to make certain it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different 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 ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio mimic as if you are using your own cash however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash maybe this is an excellent choice for you once again to check the theories okay you might want to buy tesla or apple or this etf why not use the virtual option as a method to sort of safe play with it clearly you may have missed out on gains and losses throughout that time naturally if you had invested your genuine money it allows you to develop confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind before 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 obviously 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 fine with possibly losing an excellent quantity of this investment or acquiring as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally means they’ll lose at some point in their journey certainly people do make money also and i’ve got videos all about how you can make sure you are among individuals to in fact make money however in this circumstance ensure you research your danger level would you be fine providing your cash to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous don’t pick 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 desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually utilize this too actually easily over here you can copy people now it will give you a lot of options and you can use the system to really search for somebody that you expensive really following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has satisfied that requirements and it does offer you a threat factor also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
remember it resembles 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 could make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you alright with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she really investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine really that i buy too which is good so really for me understanding what i like to invest in my specific 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 bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Best Account Manager Etoro.
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