We get this a lot on our site the answer to Trade Like A Steve Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to decide what you really wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can take place the to start with you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 too now if you’re brand new to an overall please keep in mind this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the best ones for you which being stated let’s dive straight 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 aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated 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 likewise cover is the fees involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then may not charge you for really buying and selling funds or etfs private commodities individual 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 type of costs associated so do your due diligence and i’m going to show 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 finally some best recommendations 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 costs actually crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission costs are totally free however there are a number of other costs the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you sell your products 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 understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends totally how you’re investing however that is a cost to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway 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 fee now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck with whatever charge 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 is there what are they really providing 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 give me us dollars rather you have to pay their charges now the terrific aspect of however when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great utilizing that part of their site won’t definitely limit you in any way however we have to know 2 other costs the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is basically the difference that belongs to the investment platform in between the buy rate and the list price fine 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 indicates that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the present cost of tesla is the value of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say alright 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 want to offer it and that is how they make a bit of cash on those spread fees it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit money now the last task is called an
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overnight fee now this is actually essential if you’re really utilizing cfds yourself too an over night fee is when you’re refraining from doing that buy sell transaction in the same day all right there’s then an over night charge charged and even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which means you’re in fact purchasing the specific asset rather than using utilize anyway you will not get hit with these costs however these charges are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you enter into the aid area this isn’t the over night fees details 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 uses as i said to cfds there are some service charges naturally depending upon what you are investing in also this is on your own so keep that in mind but full costs are entirely within their help information all right and we discussed in addition to totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of really using these copy functions they do not have any additional charges on top of the regular fees that
are there now what you require to remember though is these potentially managed by other individuals totally or in some cases have actually developed portfolios you’ve got a genuine individual doing the management you have to ensure you choose the individual that’s right for you similar to any type of work this is your financial properties so we absolutely require to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a couple 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 option to invest genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but really 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 terrific alternative for you once again to test the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it permits you to construct 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 actually how to copy individuals and copy portfolios now here’s something to keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i indicate 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 means am i all right with possibly losing a great quantity of this 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 figure 75 individuals will lose money however that equally suggests they’ll lose at some point in their journey undoubtedly people do make money too and i’ve got videos everything about how you can make certain you’re one of the people to in fact earn money but in this situation make sure you research your threat level would you be all right giving your cash to somebody else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wishing to be that risky do not choose somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps 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 easily over here you can copy individuals now it will provide you a great deal of choices and you can use the system to actually look for someone that you elegant actually following so let’s see perhaps we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has met that criteria and it does provide 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 obviously there are a variety of people 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 mean somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance 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 validate are you all right with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is great so really for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s also got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Trade Like A Steve Etoro.
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