We get htis a lot on our site the answer to What Banks Does Etoro Except….Concerns that i speak with new investors what if you’re brand new to investing you simply don’t wish to choose what you actually want to invest and you want somebody to do it for you there’s just a number of manner ins which that can happen the first off you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 an overall please keep in mind this platform is quite innovative 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 more about please do study the platform don’t just assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row buy these options because you think is the right ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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famous for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do precisely what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio remains 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 truly crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly 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 some of the absolutely no cost sites then might not charge you for really buying and selling funds or etfs specific commodities individual stocks.
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there’ll be charges on other parts possibly 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 show you the fees with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually crucial to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal costs so you can clearly put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer 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 ensure that i’m just withdrawing when i definitely need to now you might state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a great deal 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 perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’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 and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually giving 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 instead you have to pay their fees now the fantastic thing about however when you’ve converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent utilizing that part of their website will not certainly limit you in any way however we have to understand 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform between the buy cost and the price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really implies that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the present rate of tesla is the value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to offer so they’re going to provide you less back with your sale and you state fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread out fees it’s typically incredibly 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 bit cash now the last feat is called an
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over night cost now this is actually essential if you’re actually utilizing cfds yourself as well an overnight cost is when you’re not doing that buy sell transaction in the same day okay there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which suggests you’re in fact purchasing the exact asset rather than utilizing take advantage of anyhow you won’t get hit with these fees but these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the help area this isn’t the over night fees info 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 just uses as i stated to cfds there are some added fees of course depending upon what you are buying as well this is on your own so keep that in mind however full charges are totally within their help information fine and we discussed along with free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five 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 normal costs that
exist now what you need to bear in mind though is these possibly managed by other people entirely or in some cases have created portfolios you’ve got a genuine person doing the management you need to make certain you select the individual that’s right for you similar to any type of work this is your financial assets so we absolutely require to make certain 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 utilize this function we have actually 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 choice to invest genuine money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is a great choice for you again to test the theories alright you might wish to buy tesla or apple or this etf why not use the virtual option as a method to type of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it permits you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i suggest 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 possibly losing an excellent quantity of this financial investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey clearly individuals do generate income as well and i’ve got videos everything about how you can make sure you’re one of the people to in fact make money however in this situation make sure you research study your risk level would you be fine providing your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky don’t select someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too truly easily over here you can copy people now it will give you a lot of choices and you can utilize the system to really look for someone that you fancy actually following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has satisfied that requirements and it does give you a threat element too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean 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 easy as clicking the copy button and off you go and then you know ask you to confirm are you fine with this and off you go now another way to in fact deep dive if we click on this person for example 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 excellent to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is good so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. What Banks Does Etoro Except.
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