We get this a lot on our site and the answer to Etoro Camelot….Questions that i hear from new financiers what if you’re brand new to investing you merely do not want to decide what you really wish to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can occur the firstly you can work with a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 remember this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that 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 cash they consider that alternative too so you actually get utilized to the structure of the website 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 risk this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row buy these choices since you believe is the ideal ones for you which being said let’s dive straight in [Music] so the important 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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popular for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests if for instance 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 likewise cover is the fees involved truly critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost websites then might not charge you for in fact buying and selling funds or etfs individual products 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 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 understand prior to you in fact start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really important to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission costs are free however there are a number of other fees the very first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those options that they have a great deal of platforms undoubtedly are complimentary 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 completely how you’re investing but that is a cost to bear in mind the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually offering you in regards to 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 state provide me us dollars instead you need to pay their fees now the excellent feature of however when you have actually transformed 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 means 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 additional costs so that’s really good utilizing that part of their website won’t certainly restrict you in any way however we have to understand two other charges the first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform between the buy rate and the sale 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 in fact implies that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind clearly 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 alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread out fees it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last feat is called an
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overnight fee now this is actually essential if you’re in fact using cfds yourself too an over night fee is when you’re refraining from doing that buy offer deal in the exact same day all right there’s then an over night charge 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 really buying out the etf the stock the product and using time one leverage which means you’re really buying the precise asset rather than using take advantage of anyway you will not get hit with these fees but these charges are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say 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 fees then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some service charges obviously 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 info all right and we talked about along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of in fact using these copy operates they don’t have any extra costs 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 completely or often have actually created portfolios you have actually got a genuine individual doing the management you need to make sure you choose the person that’s right for you just like any kind of work this is your monetary possessions so we definitely need to ensure 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 utilize this function we’ve got a couple of various choices for us firstly if you’re brand new to investing i want 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 money that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash maybe this is an excellent choice for you again to test the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual option as a way to kind of safe have fun with it obviously you may have missed out on gains and losses during that time of course if you had invested your real money it allows you to develop self-confidence comprehend the platform so that’s one option 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 remember before you select 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 mean by that undoubtedly 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 just suggests am i all right with possibly losing a great quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 people will lose money however that equally suggests they’ll lose at some time in their journey clearly individuals do earn money too and i’ve got videos everything about how you can ensure you are among individuals to in fact earn money but in this situation make certain you research your danger level would you be fine providing your cash to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous do not pick someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or perhaps 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 in fact use this too truly quickly over here you can copy people now it will offer you a lot of choices and you can use the system to in fact search for someone that you fancy actually following so let’s see perhaps we desire someone from joined kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has met that criteria and it does offer 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 undoubtedly there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody 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 verify are you alright with this and off you go now another way 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 enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is good so really for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Etoro Camelot.
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