We get this a lot on our site the answer to Etoro Fax….Questions that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can take place the firstly you can work with an investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can buy 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 as well now if you’re brand new to an overall please keep in mind this platform is quite innovative you can do cfds which naturally cfds are methods of investing
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with not in fact 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 use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row purchase these options because you think is the ideal ones for you which being said let’s dive directly 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 probably.
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famous for it’s the alternative to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your cash 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 money in so we’re going to also cover is the charges included actually important you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for actually buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with fees really important to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling all right so commission costs are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can certainly put money in now if you’re 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 but when you want to withdraw your money so you offer your shares you sell your commodities 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that but 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 alternatives that they have a lot of platforms certainly 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 when every six months you understand depends totally how you’re investing however that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 instead you have to pay their charges now the great thing about however when you have actually transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their site will not certainly limit you in any way however we need to be aware of two other charges the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is essentially the difference that belongs to the investment platform in between the buy price and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing rate of tesla is the value of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to offer 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 difference between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread charges it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit cash now the last accomplishment is called an
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over night charge now this is truly important if you’re actually using cfds yourself too an overnight charge is when you’re refraining from doing that buy offer deal in the same day okay there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re in fact buying the specific property instead of using take advantage of anyway you will not get hit with these costs however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the help area this isn’t the over night fees information you can see exactly 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 and that just uses as i said to cfds there are some surcharges obviously depending upon what you are purchasing as well this is on your own so keep that in mind but full charges are completely within their help details okay and we talked about as well as totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really utilizing these copy operates they do not have any additional charges on top of the normal fees that
exist now what you require to remember though is these possibly handled by other individuals totally or in some cases have produced portfolios you’ve got a real person doing the management you need to ensure you pick the individual that’s right for you similar to any kind of work this is your financial possessions so we absolutely require to ensure 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 various choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a fantastic choice for you once again to check the theories fine you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it obviously you may have missed out on gains and losses throughout that time of course if you had invested your real money it enables you to develop confidence understand the platform so that’s one choice for you then next week and i’m going to go back 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 remember prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of just indicates am i all right with potentially losing a great quantity of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly suggests they’ll lose eventually in their journey obviously people do make money as well and i’ve got videos everything about how you can make sure you are among individuals to in fact make money but in this circumstance ensure you research your threat level would you be alright offering your money to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more conventional 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 actually use this too really easily over here you can copy people now it will give you a lot of options and you can use the system to actually look for somebody that you expensive in fact following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has fulfilled that requirements and it does offer you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
bear in mind it’s like 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 might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually 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 excellent to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is great so really for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Etoro Fax.
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