We get htis a lot on our site the answer to Who Is Etoro Competition….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely do not wish to choose what you really want to invest and you desire somebody to do it for you there’s only a number of ways that that can take place the first of all you can hire a financial investment portfolio manager they’ll normally 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 naturally you can buy mutual funds particular 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 also now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you actually get used to the structure of the site and after that when you’re ready to use your own cash 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 real business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they’ve made revenue 14 months in a row invest in these options since you believe is the right ones for you which being stated let’s dive straight 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 aspect that is most likely.
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well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their 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 really critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for really buying and selling funds or etfs specific products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 know prior to you actually start purchasing copy trading or copy portfolios and finally some finest recommendations finest 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 really crucial to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission fees are free nevertheless there are a number of other costs the very first one is withdrawal fees 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 offer your shares you sell your commodities whatever you’re offering the minimum quantity 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 ensure that i’m only withdrawing when i definitely need to now you may state alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among 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 mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is standard 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 fee is there what are they actually giving 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 charges now the excellent thing about however when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their website will not definitely restrict you in any way nevertheless we have to know two other costs the first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is basically the difference that belongs to the investment platform between the buy cost and the price okay 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 means that when you wish to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to offer it and that is how they make a little bit of cash on those spread charges it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last feat is called an
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overnight cost now this is truly essential if you’re in fact utilizing cfds yourself too an over night cost is when you’re refraining from doing that buy offer deal in the exact same day all right there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which implies you’re really purchasing the exact possession instead of utilizing take advantage of anyway you won’t get hit with these fees however these costs 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 aid section this isn’t the over night fees info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only applies as i said to cfds there are some service charges of course depending on what you are investing in too this is on your own so keep that in mind but full costs are totally within their help info alright and we discussed as well as totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular 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 2 various methods of really utilizing these copy functions they do not have any extra fees on top of the regular fees that
exist now what you require to keep in mind though is these potentially handled by other people completely or sometimes have actually created portfolios you’ve got a real person doing the management you need to make certain you pick the person that’s right for you much like any line of work this is your monetary possessions so we definitely need to make sure it’s the best individual for us prior to 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 choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means 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 require to put in your credit card information or anything you can generally have this virtual portfolio mimic as if you are using your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a terrific choice for you again to evaluate the theories all right you might want to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it certainly you may have missed out on gains and losses during that time of course if you had actually invested your genuine money it permits you to develop self-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 in fact 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 understand what your risk profile is now what do i suggest by that obviously 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 risk simply means am i fine with possibly losing a great amount of this financial investment or gaining as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that similarly implies they’ll lose at some point in their journey certainly people do earn money also and i’ve got videos all about how you can make certain you’re one of individuals to really generate income but in this situation ensure you research your threat level would you be fine providing your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re somebody who isn’t wishing to be that risky don’t select somebody who’s totally into crypto or currency conversion think of it you ‘d most likely 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 want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact use this too actually easily over here you can copy individuals now it will give you a lot of choices and you can use the system to really search for somebody that you elegant in fact following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has actually met that criteria and it does provide you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 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 verify are you fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is excellent so in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production business as that. Who Is Etoro Competition.
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