We get htis a lot on our site the answer to Gemini Vs Etoro….Questions that i hear from new financiers what if you’re brand new to investing you simply do not want to choose what you really want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the firstly you can work with a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 as well now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply presume because i utilize 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 option too so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row buy these options since you believe is the best ones for you and that being said let’s dive straight 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 element that is probably.
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popular for it’s the option to see what other traders are doing incredible we don’t typically 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 actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever 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 is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are real 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 cost sites then might not charge you for actually buying and selling funds or etfs individual commodities private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you actually begin investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees truly crucial to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission charges are complimentary however there are a number of other costs the first one is withdrawal charges 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 instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering 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 only withdrawing when i definitely need to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a charge to remember the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually offering you in terms of 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 give me us dollars instead you have to pay their fees now the terrific thing about however when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their website will not certainly limit you in any way nevertheless we need to be aware of two other costs the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you
on is essentially the distinction that belongs to the investment platform between the buy rate 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 value 599 per share in tesla that actually suggests that when you want to sell or buy as you can see it’s not the cost 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 difference then in fact to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread out costs it’s typically extremely 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 bit cash now the last accomplishment is called an
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over night charge now this is actually important if you’re actually using cfds yourself also an over night cost is when you’re refraining from doing that buy sell deal in the very same day alright there’s then an overnight charge charged and even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which implies you’re really purchasing the specific possession rather than utilizing take advantage of anyhow you will not get hit with these charges but these charges are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the assistance area this isn’t the overnight 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 only applies as i said to cfds there are some surcharges obviously depending on what you are buying as well this is on your own so keep that in mind however full charges are entirely within their help info alright and we talked about as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of in fact utilizing these copy functions they do not have any additional fees on top of the typical costs that
are there now what you require to bear in mind though is these possibly handled by other individuals completely or in some cases have produced portfolios you have actually got a real person doing the management you need to ensure you select the individual that’s right for you much like any profession this is your financial properties so we definitely require to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to utilize 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 real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can essentially 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 comfy with using your real money perhaps this is a great choice for you again to check the theories fine you might want to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it obviously you might have missed out on gains and losses throughout that time of course if you had actually invested your real cash it enables you to construct self-confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real 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 select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i suggest 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 risk just suggests am i fine with potentially losing a good quantity of this financial investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose money but that equally means they’ll lose at some time in their journey obviously individuals do generate income also and i have actually got videos all about how you can make sure you are among the people to in fact generate income however in this scenario make sure you research study your threat level would you be fine giving your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that risky do not select someone who’s completely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact 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 options and you can use the system to actually search for someone that you expensive actually following so let’s see maybe we desire someone from joined kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has fulfilled that criteria and it does give you a threat aspect as well 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 individuals that have quite high returns
remember it resembles 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 might 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 after that you understand ask you to validate are you alright 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 in fact deep dive into what is she really buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine actually that i buy too which is great so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Gemini Vs Etoro.
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