We get this a lot on our site the answer to Tricks Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to decide what you actually wish to invest and you want someone to do it for you there’s only a couple of ways that that can take place the firstly you can hire an investment portfolio manager they’ll typically charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can buy 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 rather innovative you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that 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 give that option too so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that person has stated they have actually made earnings 14 months in a row purchase these choices because you think is the best ones for you which being said let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending 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 choice 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 means with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies 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 fees involved actually 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 purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for really buying and selling funds or etfs specific commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually crucial to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal charges 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 immediately converted into us dollars and i’ll cover a little point about that later on but when you wish 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those options that they have a lot of platforms obviously are 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 six months you know depends entirely how you’re investing but that is a cost to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that suits 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 excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 say offer me us dollars instead you have to pay their costs now the fantastic aspect of however when you’ve converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 extra fees so that’s truly great using that part of their site will not definitely limit you in any way nevertheless we have to know two other charges the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is basically the difference that is part of the financial investment platform between the buy price and the list price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to purchase 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 existing rate of tesla is the worth of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you each time you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you state all right well why does that happen 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 want to sell it and that is how they make a little bit of cash on those spread charges it’s generally extremely small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit cash now the last task is called an
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over night cost now this is really crucial if you’re in fact utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer deal in the same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which indicates you’re in fact buying the precise possession rather than utilizing leverage anyhow you won’t get hit with these costs however these fees are if you’re utilizing utilize and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you go into the help area this isn’t the overnight fees details 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 only uses as i stated to cfds there are some added fees obviously depending upon what you are investing in as well this is on your own so keep that in mind however full costs are entirely within their assistance information okay and we discussed in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of really utilizing these copy operates they do not have any additional charges on top of the typical costs that
are there now what you require to keep in mind though is these potentially managed by other people totally or in some cases have actually created portfolios you’ve got a genuine individual doing the management you have to make certain you select the person that’s right for you just like any profession this is your financial assets so we absolutely need to make sure it’s the best individual for us before 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 various options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun 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 generally have this virtual portfolio simulate as if you are utilizing your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a great alternative for you once again to test the theories fine you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe play with it undoubtedly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it enables you to develop 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 people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i imply by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just suggests am i okay with potentially losing a good amount of this financial investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that equally indicates they’ll lose at some time in their journey obviously individuals do make money as well and i have actually got videos everything about how you can make sure you’re one of the people to actually generate income however in this situation ensure you research your threat level would you be okay offering your cash to someone else which is successfully 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 dangerous don’t choose somebody who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really use this too actually easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to really search for somebody that you fancy actually following so let’s see possibly we desire somebody from joined kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has met that criteria and it does offer you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as simple 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 really 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 buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine really that i buy too which is great so really for me knowing what i like to purchase my private 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 kind of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Tricks Etoro.
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