We get this a lot on our site the answer to Nyse Etoro….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not want to choose what you actually wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can occur the firstly you can employ a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 an overall please remember this platform is quite sophisticated you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you really get utilized 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 obviously your capital is at risk this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the best ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding 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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well-known for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 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 fees involved really critical you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee sites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with charges actually essential to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly 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 later on however 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state 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 costs somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a charge to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really offering 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 say provide me us dollars rather you have to pay their charges now the fantastic aspect of however when you’ve converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy 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 won’t certainly restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread costs fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is generally the distinction that is part of the investment platform between the buy rate and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 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 cost you’re seeing up here let me show you that once again so the current rate of tesla is the worth of a share what’s called spread fees 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 make money from you every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you say fine 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 want to sell it and that is how they make a bit of money on those spread costs it’s normally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last accomplishment is called an
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over night cost now this is really crucial if you’re in fact using cfds yourself also an over night charge is when you’re not doing that buy offer deal in the same day fine there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which means you’re actually purchasing the specific possession instead of using utilize anyway you won’t get hit with these fees but these fees 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 offering in the same day so let’s state if you enter into the aid section this isn’t the overnight costs details 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 overnight or you’re doing over weekends and that just uses as i said to cfds there are some added fees obviously depending on what you are investing in also this is on your own so keep that in mind but complete charges are entirely within their help info fine and we discussed along with complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of actually using these copy operates they don’t have any extra fees on top of the typical charges that
are there now what you require to remember though is these potentially handled by other individuals totally or often have developed portfolios you have actually got a genuine individual doing the management you have to make certain you select the person that’s right for you much like any kind of work this is your financial properties so we definitely require to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different options 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 genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a terrific option for you once again to check the theories all right you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe have fun with it obviously you may have missed out on gains and losses during that time obviously if you had actually invested your real cash it permits you to construct self-confidence comprehend 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i mean by that clearly 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 alright with potentially losing a good quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally means they’ll lose at some point in their journey certainly people do generate income as well and i’ve got videos all about how you can make certain you’re one of individuals to in fact earn money but in this situation make sure you research your threat level would you be fine offering your money to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy people now it will give you a lot of choices and you can use the system to in fact look for somebody that you expensive in fact following so let’s see maybe we want someone from joined kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has satisfied that requirements and it does provide you a threat factor too 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 quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way 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 confirm are you alright with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really buying 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 good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is excellent so in fact for me knowing 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 also got a bit more um of the type of primary food business and you have actually got you understand pharmaceutical and production companies as that. Nyse Etoro.
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