We get this a lot on our site and the answer to Etoro Community Coin Of The Month….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t wish to decide what you actually want to invest and you desire somebody to do it for you there’s just a couple of ways that that can take place the to start with you can employ a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are produced 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 a total please keep in mind this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you in fact get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’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 because that person has said they have actually made profit 14 months in a row purchase these options due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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popular for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests 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 costs included truly vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine 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 zero charge websites then may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 before you in fact start buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs truly essential to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling alright so commission costs are totally free however there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you offer 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say all right that’s rather costly 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 simply one of those alternatives that they have a lot of platforms undoubtedly are totally 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 but that is a charge to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two 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 type 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 really 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 rather you need to pay their costs now the great aspect of though when you have actually transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site won’t definitely restrict you in any way however we need to understand 2 other costs the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread fee 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 all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 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 price you’re seeing up here let me reveal you that once again so the existing price 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 discover this all over this is another manner in which they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to offer 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 distinction between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread out costs it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit money now the last accomplishment is called an
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over night cost now this is actually essential if you’re actually utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which indicates you’re really purchasing the exact asset instead of utilizing leverage anyway you will not get hit with these charges however these costs are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the assistance section 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 fees then for when you’re doing over night or you’re doing over weekends which just applies as i stated to cfds there are some added fees naturally depending on what you are buying also this is on your own so keep that in mind however complete fees are totally within their help info all right and we discussed as well as complimentary to deposit in however there’s a 5 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 fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually utilizing these copy functions they don’t have any additional charges on top of the normal fees that
exist now what you require to remember though is these possibly handled by other people totally or in some cases have actually developed portfolios you’ve got a real individual doing the management you have to ensure you choose the individual that’s right for you much like any line of work this is your financial assets so we absolutely need to make sure it’s the right 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 firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash 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 won’t need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is a terrific choice for you again to test the theories fine you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe have fun with it certainly you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine cash it allows you to construct confidence understand the platform so that’s one option 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 individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i indicate by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just means am i all right with potentially losing an excellent quantity 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 fact 75 people will lose money however that equally suggests they’ll lose at some time in their journey clearly people do earn money also and i have actually got videos everything about how you can make sure you are among the people to actually generate income however in this circumstance ensure you research your threat level would you be okay offering your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wishing to be that dangerous do not choose somebody who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really use this too actually easily over here you can copy individuals now it will offer you a lot of options and you can use the system to actually look for someone that you expensive 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 a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has satisfied that criteria and it does offer you a threat factor as well 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
keep in mind it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee 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 really 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 buying 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 good to know ibm paypal yep she’s definitely like sort 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 specific stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s also got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Etoro Community Coin Of The Month.
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