We get this a lot on our site and the answer to Etoro Crypto Wallet Review….Questions that i hear from brand-new investors what if you’re brand new to investing you simply do not wish to choose what you really wish to invest and you want someone to do it for you there’s only a number of ways that that can happen the first of all you can employ a financial investment portfolio manager they’ll typically charge a quite a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 as well now if you’re brand new to an overall please keep in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not just presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking 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 because that individual has actually stated they have actually made revenue 14 months in a row buy these choices because you believe is the best ones for you and that being stated let’s dive straight 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 aspect that is most likely.
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popular for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 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 costs included actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for actually buying and selling funds or etfs private commodities specific 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 sort of costs associated so do your due diligence and i’m going to reveal you the fees 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 best advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees actually crucial to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can undoubtedly 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 later on but when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those choices that they have a lot 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 know depends entirely how you’re investing however that is a cost to remember the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that fits 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 great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact giving 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 say provide me us dollars instead you need to pay their fees now the fantastic feature of however when you have actually converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really good using that part of their website won’t definitely restrict you in any way however we have to know two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you
on is essentially the difference that belongs to 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 site today tesla’s dollar worth 599 per share in tesla that really implies that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that occur 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 sell it and that is how they make a little bit of money on those spread out costs it’s typically incredibly 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 feat is called an
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overnight cost now this is actually essential if you’re really utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the exact same day all right there’s then an over night cost charged or perhaps if you go from the friday to the monday before sailing 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 leverage which implies you’re in fact purchasing the specific asset rather than using take advantage of anyway you will not get hit with these charges however these costs are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you enter into the aid section this isn’t the over night charges information 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 overnight or you’re doing over weekends and that just applies as i said to cfds there are some additional charges naturally depending upon what you are purchasing also this is on your own so keep that in mind but full charges are entirely within their aid information okay and we spoke about in addition to complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of really utilizing these copy works they don’t have any additional fees on top of the normal costs that
are there now what you require to bear in mind though is these potentially managed by other individuals totally or in some cases have created portfolios you have actually got a real person doing the management you have to ensure you select the individual that’s right for you much like any profession this is your financial possessions 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 wish to use this function we’ve got a couple of different alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money 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 using your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a great alternative for you once again to evaluate the theories okay you might wish to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe have fun with it obviously you may have missed out on gains and losses during that time obviously if you had actually invested your genuine money it allows you to build confidence understand 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 keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i mean by that clearly 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 means am i all right with potentially losing an excellent quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that equally means they’ll lose at some point in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can ensure you are among individuals to actually earn money but in this scenario ensure you research your risk level would you be all right offering your cash to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that risky do not pick someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold or perhaps oil plus more traditional 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 easily over here you can copy individuals now it will provide you a great deal of choices and you can use the system to in fact look for somebody that you expensive actually following so let’s see possibly we want somebody from unified 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 quantity and i can discover everybody who has actually satisfied that requirements and it does provide you a risk element as well 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 people that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you okay with this and off you go now another way to in fact 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 purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is good so in fact for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Crypto Wallet Review.
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