We get this a lot on our site the answer to Save The Student Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to decide what you actually want to invest and you desire someone to do it for you there’s just a number of manner ins which that can occur the first of all you can hire a financial investment portfolio manager they’ll typically 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 buy mutual funds specific funds are produced once 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 keep in mind this platform is quite innovative you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you really get used to the structure of the website and then when you’re ready to utilize your own cash 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 select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they’ve made revenue 14 months in a row buy these choices since you think is the right ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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well-known for it’s the alternative 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 therefore that suggests with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates if for instance 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 involved actually vital you understand what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 understand before you in fact begin investing in copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs truly essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission charges are complimentary however there are a couple of other costs the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 in the future but when you want to withdraw your cash so you offer your shares you sell your products 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say okay that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind 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 option to buy in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually offering you in regards to 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 state give me us dollars rather you need to pay their charges now the fantastic feature of though when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 extra charges so that’s really good utilizing that part of their site won’t definitely restrict you in any way however we have to be aware of two other costs the very first being what’s called spread costs 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 essentially the difference that is part of the financial investment platform between the buy cost and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually suggests that when you wish to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal 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 benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a bit of cash on those spread fees it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit money now the last task is called an
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over night fee now this is actually essential if you’re in fact using cfds yourself as well an over night charge is when you’re refraining from doing that buy sell transaction 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 cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re actually buying the exact property rather than using leverage anyway you won’t get hit with these costs however these fees are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the assistance area 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 charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i stated to cfds there are some added fees obviously depending on what you are buying as well this is on your own so keep that in mind but complete charges are completely within their help information all right and we discussed as well as complimentary to deposit in but 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 charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of really using these copy works they don’t have any additional fees on top of the regular fees that
exist now what you require to keep in mind though is these potentially handled by other individuals entirely or in some cases have actually developed portfolios you have actually got a real person doing the management you need to make certain you select the person that’s right for you much like any kind of work this is your monetary possessions so we absolutely require to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various 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 genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is an excellent option for you once again to evaluate the theories alright you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it obviously you may have missed out on gains and losses during that time naturally if you had actually invested your real money it permits you to construct confidence understand the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to remember prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply means am i all right with potentially losing a good amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose money however that equally indicates they’ll lose at some time in their journey undoubtedly people do make money as well and i have actually got videos all about how you can ensure you’re one of the people to really earn money but in this situation make certain you research study your risk level would you be okay offering your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous don’t select someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too really quickly over here you can copy people now it will provide you a lot of choices and you can use the system to actually look for someone that you elegant in fact following so let’s see possibly we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has actually satisfied that criteria and it does give you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure 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 validate are you all right with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really investing in 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 great to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a little bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production companies as that. Save The Student Etoro.
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