We get this a lot on our site and the answer to Etoro Doge….Questions that i speak with new investors what if you’re brand new to investing you just do not want to decide what you actually want to invest and you want someone to do it for you there’s just a couple of manner ins which that can take place the first of all you can work with a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 also now if you’re brand new to a total please remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that 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 give that option also so you actually get used to the structure of the site and then 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 investing in real business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal ones for you which 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 extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge sites then may not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 understand before you in fact begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with costs really crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission fees are free nevertheless there are a number of other costs the first one is withdrawal charges so you can clearly put money 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 in the future but when you wish to withdraw your cash 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are complimentary 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 when every six months you understand depends completely how you’re investing however that is a cost to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state give me us dollars rather you have to pay their fees now the terrific feature of though when you’ve transformed your money 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 means the initial day that you purchase 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 truly excellent utilizing that part of their site will not definitely restrict you in any way however we need to know two other fees the first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy price and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact suggests that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the existing price of tesla is the worth 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 everywhere this is another way that they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say 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 want to offer it which is how they make a little bit of money on those spread out charges it’s normally extremely small 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 cash now the last task is called an
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overnight fee now this is truly important if you’re really using cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the exact same day fine there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which suggests you’re really buying the exact possession instead of using take advantage of anyway you will not get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s say if you enter 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 charges then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some surcharges of course depending on what you are investing in also this is on your own so keep that in mind but full charges are totally within their assistance information alright and we spoke about along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually using these copy operates they don’t have any extra costs on top of the typical fees that
exist now what you need to remember though is these potentially handled by other people totally or sometimes have developed portfolios you’ve got a real person doing the management you have to ensure you choose the individual that’s right for you similar to any line of work this is your financial possessions so we definitely need to make certain it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money possibly this is an excellent choice for you again to evaluate the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe play with it obviously you may have missed out on gains and losses throughout that time of course if you had actually invested your real money it allows you to build self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people 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 sure you understand what your danger profile is now what do i imply by that certainly 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 simply suggests am i all right with possibly losing a good amount of this investment or gaining 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 fact 75 people will lose cash however that similarly suggests they’ll lose eventually in their journey certainly individuals do make money as well and i have actually got videos all about how you can make sure you’re one of individuals to in fact generate income however in this circumstance make sure you research study your danger level would you be okay giving your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re someone who isn’t wishing to be that risky do not choose somebody 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 even oil plus more conventional etfs and index funds you might 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 utilize this too truly quickly over here you can copy individuals now it will provide you a lot of choices and you can use the system to actually search for someone that you elegant actually following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has met that criteria and it does give you a danger aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to validate are you alright with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can in fact 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 really that i buy too which is great so really for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses 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 business as that. Etoro Doge.
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