We get this a lot on our site the answer to Etoro Practise Account….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply do not wish to decide what you actually want to invest and you want somebody to do it for you there’s just a couple of ways that that can happen the to start with you can hire a financial investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 an overall please keep in mind this platform is quite sophisticated you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can use it immediately 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 money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row buy these choices because you believe is the best ones for you which being said let’s dive directly in [Music] so 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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well-known for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your cash will be simulated 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 cash in so we’re going to also cover is the fees included really vital you understand what are the costs of this now with any platform there will be some cost 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 some of the absolutely no charge websites then may not charge you for really buying and selling funds or etfs private products private stocks.
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there’ll be fees on other parts perhaps 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 fees with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with fees truly crucial to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission charges are free however there are a number of other charges the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
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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 want to withdraw your money so you offer 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms clearly are 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 once every six months you know depends completely how you’re investing but that is a fee to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in 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 anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really offering you in regards to 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 need to pay their costs now the terrific aspect of however when you’ve transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their website won’t certainly restrict you in any way however we have to know two other charges the first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you
on is essentially the distinction that is part of the investment platform between the buy cost and the list price alright 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 value 599 per share in tesla that really means that when you wish to buy or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread charges is the distinction then really 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 every time you do a purchaser’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you say okay 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 wish to sell it which is how they make a bit of money on those spread out costs it’s generally exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit cash now the last task is called an
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overnight cost now this is actually important if you’re actually using cfds yourself as well an overnight fee is when you’re refraining from 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 charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which indicates you’re in fact purchasing the precise asset rather than using leverage anyhow you won’t get hit with these fees however these fees are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the help area this isn’t the overnight costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however full fees are entirely within their aid details fine and we talked about in addition to totally 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 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of in fact using these copy operates they don’t have any extra costs on top of the typical fees that
are there now what you require to remember though is these possibly managed by other individuals totally or often have actually produced portfolios you’ve got a real individual doing the management you have to make certain you pick the person that’s right for you similar to any kind of work this is your monetary possessions so we definitely require to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your charge card details or anything you can basically have this virtual portfolio simulate as if you are using your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash possibly this is a great alternative for you again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe have fun with it obviously you might have lost out on gains and losses during that time naturally if you had actually invested your real money it enables you to develop self-confidence understand the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk 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 investments the riskier you can be risk simply implies am i okay with potentially losing an excellent amount of this investment or acquiring as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly indicates they’ll lose at some time in their journey obviously people do earn money also and i’ve got videos everything about how you can make sure you are among individuals to actually earn money however in this situation ensure you research your danger level would you be alright offering your cash to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more conventional 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 say you can actually use this too really easily over here you can copy individuals now it will give you a lot of options and you can use the system to really search for someone that you elegant really following so let’s see perhaps we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has fulfilled that requirements and it does provide you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 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 understand ask you to validate are you alright with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really buying 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 sort of into those blue box and the tech market she’s got some of mine really that i purchase too which is excellent so in fact for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s also got a bit more um of the type of primary food business and you have actually got you understand pharmaceutical and production business as that. Etoro Practise Account.
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