We get this a lot on our site the answer to Range Bars Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply do not want to decide what you really wish to invest and you want someone to do it for you there’s only a number of ways that that can happen the to start with you can work with an investment portfolio manager they’ll typically charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 keep in mind this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you really get used to the structure of the website and then when you’re ready to use 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 buying real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has actually stated they have actually made earnings 14 months in a row invest in these choices since you believe is the right ones for you and that being stated 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 belongs to social trading which is one aspect that is most likely.
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well-known for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for instance 10 of their 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 costs involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for in fact buying and selling etfs or funds private commodities specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 understand before you actually start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with fees really essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission charges are free however there are a couple of other charges the first one is withdrawal fees so you can clearly put cash in now if you’re 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 in the future however when you want to withdraw your cash 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 knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms obviously are totally free 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 as soon as every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 say provide me us dollars instead you have to pay their costs now the great thing about however when you’ve converted your money you do not have to invest it right away that dollar value can being 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really great using that part of their site won’t definitely limit you in any way however we need to understand two other costs the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the financial investment platform in between the buy rate and the 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 worth 599 per share in tesla that really suggests that when you wish to purchase or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing price 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 find this all over this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to give 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 in between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread fees it’s usually exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last task is called an
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over night cost now this is truly important if you’re in fact utilizing cfds yourself as well an over night fee is when you’re not doing that buy sell transaction in the very same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re really purchasing the specific possession rather than using leverage anyway you will not get hit with these costs however these charges are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you enter into the help section this isn’t the over night charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only applies as i stated to cfds there are some service charges of course depending upon what you are purchasing as well this is on your own so keep that in mind however full fees are entirely within their aid details fine and we spoke about along with free to deposit in however 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 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of actually using these copy functions they don’t have any extra charges on top of the typical costs that
are there now what you need to remember though is these potentially managed by other individuals totally or in some cases have actually created portfolios you’ve got a real individual doing the management you need to make certain you select the individual that’s right for you just like any line of work this is your financial properties so we definitely require to make certain it’s the best person for us before 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 alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun 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 basically have this virtual portfolio mimic as if you are using your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a great alternative for you once again to evaluate the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe play with it obviously you might have missed out on gains and losses throughout that time obviously if you had invested your real cash it permits you to develop 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 people and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean by that clearly 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 implies am i all right with potentially losing a good amount of this investment or gaining as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money however that equally suggests they’ll lose at some time in their journey undoubtedly individuals do make money as well and i have actually got videos all about how you can ensure you are among the people to really generate income however in this situation ensure you research your risk level would you be fine giving your money to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re buying completely if you’re someone who isn’t wanting to be that dangerous do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more standard 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 really utilize this too truly easily over here you can copy people now it will offer you a lot of options and you can use the system to actually look for someone that you expensive in fact following so let’s see perhaps we want somebody from united kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has actually met that criteria and it does give you a risk element as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
remember it’s like 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 4 or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a 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 in fact that i purchase too which is good so in fact 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 business that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Range Bars Etoro.
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