We get this a lot on our site and the answer to Etoro Crypto Doge….Questions that i hear from new financiers what if you’re brand new to investing you simply do not want to choose what you in fact want to invest and you want somebody to do it for you there’s just a couple of ways that that can happen the firstly you can hire a financial investment portfolio supervisor they’ll generally 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 specific funds are created 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 as well now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not simply assume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you really 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 of course your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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 normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for example 10 of their 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 costs included truly critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for actually buying and selling funds or etfs private products private 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 charges 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 lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling alright so commission fees are complimentary nevertheless there are a number of other charges the first one is withdrawal fees so you can obviously 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 however when you want to withdraw your cash so you offer your shares you offer your products 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those choices that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends totally how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow 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 anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact 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 give me us dollars rather you have to pay their fees now the terrific aspect of however when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 fees so that’s truly great utilizing that part of their website won’t definitely restrict you in any way nevertheless we have to understand two other costs the first being what’s called spread costs 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 distinction that is part of the financial investment platform in between the buy cost 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 suggests that when you want to sell or purchase as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you each time you do a buyer’s share so keep that in mind obviously it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you state alright well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of money on those spread out fees it’s usually exceptionally 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 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 utilizing cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the same day fine there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which indicates you’re really buying the exact property rather than utilizing take advantage of anyway you will not get hit with these costs but these fees are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the assistance area this isn’t the over night costs info you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges of course depending on what you are buying as well this is on your own so keep that in mind but full fees are completely within their help details fine and we spoke about as well as complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product 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 two various ways of really using these copy works they don’t have any extra fees on top of the regular costs that
are there now what you need to keep in mind though is these possibly managed by other people completely or in some cases have actually created portfolios you have actually got a genuine person doing the management you need to make certain you pick the individual that’s right for you similar to any type of work this is your monetary assets so we absolutely require to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish 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 option to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is a great choice for you once again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it obviously you might have missed out on gains and losses throughout that time naturally if you had actually invested your real money it permits you to construct self-confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose someone 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 imply 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 run the risk of simply means am i alright with possibly losing an excellent amount of this investment or acquiring as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that equally means they’ll lose eventually in their journey clearly individuals do earn money also and i have actually got videos all about how you can make sure you’re one of individuals to really make money but in this scenario make certain you research your risk level would you be all right providing your money to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t choose someone who’s completely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more conventional 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 in fact use this too actually quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to actually look for somebody that you elegant in fact following so let’s see perhaps we want someone from joined kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has actually satisfied that requirements and it does offer you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of individuals that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not mean 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 simple as clicking the copy button and off you go and then you understand ask you to confirm are you fine with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she in fact buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got some of mine actually that i purchase too which is good so in fact for me knowing what i like to invest in 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 chooses she’s also got a bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Etoro Crypto Doge.
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