We get this a lot on our site the answer to Etoro Free App….Questions that i speak with brand-new investors what if you’re brand new to investing you simply don’t want to decide what you really want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can occur the firstly you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally 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 too now if you’re brand new to a total please remember this platform is rather sophisticated 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 finding out about please do study the platform do not just assume because 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 money they consider that option too so you in fact get utilized to the structure of the site and then 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 threat this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row purchase these choices since you believe is the ideal ones for you which being stated let’s dive straight 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 aspect that is most likely.
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famous for it’s the choice to see what other traders are doing unbelievable we do not normally 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 actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for example 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 charges included actually crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs individual products private stocks.
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there’ll be charges on other parts maybe 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 fees with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission charges are totally free however there are a couple of other costs the first one is withdrawal costs so you can clearly 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 in the future but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a charge to keep in mind the second cost that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative 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 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 using trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually 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 say provide me us dollars rather you need to pay their costs now the fantastic thing about though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their site will not definitely limit you in any way however we have to know 2 other costs the first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is basically the difference that is part of the financial investment platform in between the buy price and the sale 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 worth 599 per share in tesla that in fact 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 current cost of tesla is the value of a share what’s called spread charges is the difference then really to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you each time you do a buyer’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you say alright well why does that occur it just does that is the nature of a great deal 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 little bit of money on those spread out charges it’s usually incredibly 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 task is called an
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overnight charge now this is truly important if you’re in fact using cfds yourself too an overnight fee is when you’re refraining from doing that buy sell transaction in the exact 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 fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which suggests you’re actually buying the specific property instead of using utilize anyway you will not get hit with these fees however these costs are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s state if you go into the help area this isn’t the overnight costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which only applies as i said to cfds there are some added fees obviously depending on what you are purchasing as well this is on your own so keep that in mind however full costs are totally within their assistance info alright and we discussed as well as complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of actually using these copy operates they don’t have any extra costs on top of the normal charges that
exist now what you require to keep in mind though is these potentially managed by other people totally or sometimes have actually produced portfolios you’ve got a real individual doing the management you need to make sure you pick the individual that’s right for you similar to any type of work this is your monetary possessions so we absolutely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of different alternatives for us firstly if you’re brand new to investing i want 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 have fun with and it’s not real money that you’re investing you won’t require to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a great choice for you again to evaluate the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had actually invested your genuine money it allows you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember 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 danger profile is now what do i imply by that certainly 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 means am i okay with possibly losing an excellent amount of this financial investment or getting as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash but that equally indicates they’ll lose eventually in their journey certainly individuals do make money also and i’ve got videos all about how you can ensure you’re one of individuals to actually make money but in this scenario make certain you research your danger level would you be fine offering your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous do not choose somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more traditional 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 say you can in fact utilize this too really easily over here you can copy people now it will provide you a great deal of choices and you can use the system to in fact search for someone that you fancy actually following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually met that criteria and it does give you a risk element 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 people that have rather high returns
keep in mind it’s like anything to do with the news or predictions 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 easy as clicking the copy button and off you go and after that you understand ask you to verify are you all right 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 really deep dive into what is she in fact 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 understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is excellent so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a little bit more um of the kind of primary food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Free App.
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