We get this a lot on our site the answer to Etoro Melbourne….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you actually wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can happen the first of all you can employ an investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are developed 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 a total please remember this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize 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 also so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something because that person has actually said they’ve made earnings 14 months in a row buy these choices since you think is the ideal ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
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well-known for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies 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 costs included actually vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge sites then might not charge you for in fact buying and selling funds or etfs individual commodities private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really important to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling all right so commission fees are totally free however there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of 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 perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a cost to remember the 2nd cost that i’ve 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 and that’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 buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there 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 give me us dollars rather you need to pay their charges now the great thing about though when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform 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 actually great utilizing that part of their site will not definitely restrict you in any way however we need to know 2 other fees the first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform between the buy cost and the price all right 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 actually indicates that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you state alright well why does that occur it just does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread out fees it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit cash now the last feat is called an
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overnight charge now this is actually important if you’re in fact using cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer deal in the very same day fine there’s then an over night charge charged or perhaps if you go from the friday to the monday before 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 utilizing time one utilize which indicates you’re really purchasing the exact property instead of using leverage anyhow you will not get hit with these charges however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you go into the help section this isn’t the overnight fees information 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 and that just uses as i said to cfds there are some added fees of course depending upon what you are buying as well this is on your own so keep that in mind but complete costs are totally within their aid details okay and we discussed along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of really utilizing these copy operates they don’t have any extra charges on top of the typical costs that
are there now what you require to keep in mind though is these possibly handled by other people totally or often have produced portfolios you’ve got a real individual doing the management you need to ensure you choose the individual that’s right for you just like any line of work this is your financial properties 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 wish to utilize this function we have actually got a number of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a great choice for you once again to test the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it certainly you may have lost out on gains and losses throughout that time naturally if you had actually invested your real money it permits you to develop self-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 in fact how to copy people and copy portfolios now here’s something to remember before you choose someone 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 mean by that certainly 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 simply suggests am i okay with potentially losing a great amount of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose cash but that equally suggests they’ll lose at some time in their journey clearly people do generate income also and i’ve got videos all about how you can ensure you’re one of individuals to actually earn money but in this situation ensure you research your danger level would you be alright offering your money to another person which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that risky don’t select somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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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 exact same with who you’re following now as i state you can really utilize this too actually quickly over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to really search for somebody that you expensive in fact following so let’s see maybe we want someone from united kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has satisfied that criteria and it does offer you a threat factor as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
remember 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 could make four or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly 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 excellent so in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production business as that. Etoro Melbourne.
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