We get this a lot on our site and the answer to Etoro Dave….Questions that i hear from new financiers what if you’re brand new to investing you simply do not wish to decide what you in fact wish to invest and you want someone to do it for you there’s just a couple of ways that that can happen the first of all you can employ an investment portfolio manager they’ll normally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally 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 too now if you’re brand new to a total please bear in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row buy these options since you believe is the best 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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famous for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates 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 likewise cover is the charges included actually critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for actually buying and selling etfs or funds specific products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 know before you actually start investing in copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with costs actually essential to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling alright so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you sell 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 sure that i’m only withdrawing when i definitely require to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those options that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 state give me us dollars rather you need to pay their costs now the excellent aspect of though when you have actually transformed your money 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 initial 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 fees so that’s really good using that part of their site won’t certainly limit you in any way however we have to be aware of two other costs the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the difference that belongs to the financial investment platform in between the buy rate and the list 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 today tesla’s dollar value 599 per share in tesla that really means that when you wish to offer 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 current price 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 manner in which they make a percentage of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you state fine 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 wish to offer it and that is how they make a bit of cash on those spread fees it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit money now the last task is called an
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over night fee now this is truly essential if you’re actually utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy sell transaction in the very same day fine there’s then an overnight charge charged and even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re in fact purchasing the specific property rather than utilizing utilize anyway you won’t get hit with these fees however these charges are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you go into the aid area this isn’t the over night charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some additional charges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete costs are completely within their assistance info okay and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of really using these copy operates they do not have any extra fees on top of the typical charges that
exist now what you require to bear in mind though is these possibly managed by other people completely or sometimes have actually created portfolios you have actually got a real individual doing the management you have to make certain you pick the person that’s right for you similar to any profession this is your monetary assets so we definitely need to make sure it’s the best person for us before 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 different choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the option 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 need to put in your credit card details or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash maybe this is a terrific alternative for you again to check the theories fine you may want to buy tesla or apple or this etf why not use the virtual option as a method to kind of safe have fun with it obviously you may have missed out on gains and losses during that time naturally if you had invested your real money it enables you to construct self-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 individuals and copy portfolios now here’s something to remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat 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 indicates am i alright with possibly losing a good amount of this investment or getting as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly implies they’ll lose at some point in their journey obviously people do generate income also and i’ve got videos all about how you can make sure you are among individuals to in fact generate income however in this scenario ensure you research your danger level would you be alright offering your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a backbone of strong products
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like gold and even oil plus more standard 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 actually utilize this too truly quickly over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to really search for someone that you elegant actually following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has fulfilled that criteria and it does offer you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you alright with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is excellent so actually for me understanding what i like to invest in my private 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 also got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Dave.
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