We get this a lot on our site the answer to Etoro Connection….Concerns that i speak with new financiers what if you’re brand new to investing you simply do not wish to choose what you in fact wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can happen the firstly you can hire an investment portfolio manager they’ll normally charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is of course you can purchase 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 too now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you actually get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row buy these choices since you believe is the best ones for you which being stated 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 becomes part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means 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 fees involved actually crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee websites then might not charge you for really buying and selling funds or etfs specific commodities 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 sort of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs really crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission costs are free however there are a number of other fees the first one is withdrawal fees so you can certainly put money 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 on but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity 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 sure that i’m just withdrawing when i definitely require to now you may state alright 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 someplace and withdrawal costs are just one of those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a charge to keep in mind the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway 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 use anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type 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 terms of 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 charges now the excellent thing about 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 cash dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is basically the distinction that belongs to the financial investment platform in between the buy cost and the 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 actually suggests that when you wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the existing rate 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 all over this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you state fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out costs it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last feat is called an
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overnight charge now this is truly important if you’re in fact using cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the same day fine there’s then an over night fee charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which indicates you’re actually purchasing the specific property rather than utilizing leverage anyhow you won’t get hit with these charges however these fees 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 enter into the assistance section this isn’t the overnight costs info you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some surcharges obviously depending on what you are buying too this is on your own so keep that in mind but complete fees are entirely within their aid details alright and we spoke about along with complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of actually utilizing these copy works they don’t have any extra charges on top of the normal costs that
exist now what you require to bear in mind though is these potentially handled by other people totally or often have produced portfolios you have actually got a real individual doing the management you need to make certain you pick the person that’s right for you just like any line of work this is your monetary possessions so we definitely require to ensure 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 various 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 think 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 information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is an excellent alternative for you again to test the theories all right you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe play with it clearly you might have lost out on gains and losses during that time of course if you had actually invested your genuine cash it enables you to develop confidence comprehend the platform so that’s one choice 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 people and copy portfolios now here’s something to bear in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i imply by that certainly 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 implies am i all right with possibly losing a great amount of this investment or gaining as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose money but that equally indicates they’ll lose at some point in their journey undoubtedly people do generate income too and i have actually got videos all about how you can make certain you are among the people to in fact make money but in this situation make certain you research your threat level would you be all right offering your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous do not choose someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact use this too actually easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to in fact search for someone that you elegant in fact following so let’s see possibly we want somebody from unified kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has satisfied that criteria and it does give you a threat factor as well 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
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to confirm are you fine with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really investing in so let’s enter 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 know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i purchase too which is excellent so really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Connection.
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