We get this a lot on our site and the answer to Does Etoro Offer Isa….Concerns that i speak with new investors what if you’re brand new to investing you merely do not wish to decide what you really want to invest and you desire someone to do it for you there’s only a number of manner ins which that can occur the to start with you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular funds are developed once 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 also now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row purchase these options because you think is the best ones for you which being said 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 element that is most likely.
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well-known for it’s the alternative to see what other traders are doing extraordinary we do not typically 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 money we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then may not charge you for in fact buying and selling funds or etfs specific products individual 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 charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly important to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission costs are totally free however there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you remain 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 but when you want to withdraw your money so you sell your shares you sell your commodities 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms certainly 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 know depends entirely how you’re investing however that is a cost to remember the second charge that i’ve touched upon is that conversion cost 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 great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have i suppose 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 actually 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 instead you have to pay their fees now the excellent feature of however when you’ve converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site won’t definitely limit you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread fees 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 becomes part of the financial investment platform between the buy cost and the price all right 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 value 599 per share in tesla that really means that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you say okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out charges it’s usually extremely small 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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overnight fee now this is really essential if you’re actually utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy offer deal in the same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which means you’re in fact buying the exact property rather than using leverage anyway you will not get hit with these costs however these charges are if you’re utilizing leverage 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 assistance area this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell 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 stated to cfds there are some additional charges naturally depending upon what you are purchasing too this is on your own so keep that in mind but full charges are totally within their help details fine and we spoke about as well as totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of really utilizing these copy functions they do not have any extra fees on top of the regular charges that
exist now what you need to keep in mind though is these possibly managed by other people totally or in some cases have actually created portfolios you’ve got a real person doing the management you have to ensure you pick the individual that’s right for you much like any profession this is your monetary assets so we definitely need to make sure it’s the ideal 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 options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods 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 require to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash possibly this is a terrific option for you once again to evaluate the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it certainly you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money it enables you to build confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really 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 make sure you comprehend what your risk 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 just means am i alright with potentially losing a good quantity of this investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally indicates they’ll lose at some point in their journey certainly people do make money also and i have actually got videos all about how you can make certain you’re one of the people to actually earn money but in this scenario ensure you research your danger level would you be alright giving your cash to someone else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that risky do not pick somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually use this too really quickly over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to in fact search for somebody that you expensive in fact following so let’s see perhaps we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can discover everybody 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 obviously there are a number of individuals that have rather high returns
remember it resembles 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 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 confirm are you alright with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she actually 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 understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine really that i invest in too which is good so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s also got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production companies as that. Does Etoro Offer Isa.
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