We get this a lot on our site the answer to Dailypik Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t wish to choose what you in fact wish 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 to start with you can employ a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can purchase 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 remember this platform is quite innovative 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 discovering please do study the platform do not just assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you in fact get utilized to the structure of the site and then when you’re ready to use 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 real business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they’ve made earnings 14 months in a row purchase these options since you think is the right ones for you which being said let’s dive straight in [Music] 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 aspect that is most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 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 costs involved truly vital you understand what are the costs of this now with any platform there will be some expense to clearly these are real 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 absolutely no charge sites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs really important to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission costs are totally free however there are a number of other charges the first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk cash.
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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 money so you sell your shares you offer 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those options 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 know depends totally how you’re investing however that is a fee to bear in mind the second fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say provide me us dollars rather you need to pay their costs now the great aspect of though when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we need to know 2 other costs the very first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is essentially the difference that becomes part of the financial investment platform between the buy rate and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that in fact means that when you want to purchase 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 cost of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you whenever you do a purchaser’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 alright 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 and that is how they make a bit of cash on those spread out costs it’s generally extremely small 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 fee now this is really important if you’re in fact using cfds yourself too an overnight fee is when you’re not doing that buy offer deal in the very same day okay there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which implies you’re in fact purchasing the precise asset instead of utilizing leverage anyhow you won’t get hit with these charges but these charges are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you go into the assistance area this isn’t the over night costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just applies as i said to cfds there are some service charges naturally depending upon what you are investing in too this is on your own so keep that in mind however full costs are completely within their help info fine and we spoke about as well as free to deposit in however there’s a five 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of really using these copy operates they don’t have any additional charges on top of the normal charges that
are there now what you need to remember though is these potentially managed by other individuals entirely or in some cases have actually created portfolios you’ve got a real person doing the management you have to make sure you pick the person that’s right for you similar to any line of work this is your monetary assets so we absolutely need to make sure it’s the right individual 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 number of different alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money but really purchase 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 a fantastic option for you once again to evaluate the theories fine you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe play with it obviously you might have lost out on gains and losses during that time of course if you had invested your genuine money it permits you to construct self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return 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 keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i imply by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply means am i alright with possibly losing a good quantity of this financial investment or acquiring as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose eventually in their journey clearly people do earn money also and i have actually got videos everything about how you can make certain you’re one of the people to really generate income but in this situation make sure you research your risk level would you be all right giving your money to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that risky don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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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 actually utilize this too actually quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to in fact look for somebody that you expensive actually following so let’s see perhaps we want someone from unified kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everybody who has actually fulfilled that criteria and it does give you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
keep in mind 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 four or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to verify are you okay 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 actually deep dive into what is she in fact buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so actually for me knowing what i like to buy my individual 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 little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Dailypik Etoro.
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