We get this a lot on our site and the answer to Etoro Fifo….Concerns that i speak with brand-new investors what if you’re brand new to investing you just don’t wish to decide what you in fact want to invest and you want somebody to do it for you there’s only a number of ways that that can happen the first off you can work with a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 an overall please remember this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you really get used to the structure of the website and then when you’re ready to utilize 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 buying genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for instance 10 of their financial 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 costs involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real 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 no fee websites then may not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs truly important to comprehend these now on there’s a couple of charges there isn’t costs to do with really buying and selling all right so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum amount 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 sure that i’m only withdrawing when i definitely need to now you may say all right that’s rather pricey 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 one of those options 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 mainly 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 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really offering 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 offer me us dollars rather you have to pay their fees now the terrific thing about though when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand 2 other fees the first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the financial investment platform in between the buy cost and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually suggests that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the present cost of tesla is the worth of a share what’s called spread costs is the distinction 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 make money from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you state alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread out charges it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit cash now the last accomplishment is called an
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over night charge now this is actually important if you’re actually using cfds yourself too an over night fee is when you’re not doing that buy sell deal 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 prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which implies you’re actually buying the precise asset rather than using take advantage of anyway you will not get hit with these costs however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you enter into the aid area this isn’t the over night fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some service charges obviously 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 information fine and we spoke about as well as totally free 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 everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact using these copy works they do not have any extra costs on top of the regular fees that
are there now what you require to bear in mind though is these possibly managed by other people completely or in some cases have developed portfolios you have actually got a genuine 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 monetary properties so we definitely require to make sure it’s the ideal individual 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 number of different alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is a great option for you once again to check the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it obviously you might have missed out on gains and losses during that time obviously if you had actually invested your genuine cash it enables you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine 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 prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just means am i okay with potentially losing an excellent amount of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money however that similarly indicates they’ll lose eventually in their journey obviously individuals do generate income too and i have actually got videos all about how you can make certain you’re one of the people to really earn money but in this situation make sure you research your danger level would you be all right giving your money to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wanting to be that risky do not select somebody who’s totally into crypto or currency conversion consider 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 may not want some up-and-coming single stocks in your portfolio do the very 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 great deal of choices and you can use the system to in fact search for somebody that you elegant really following so let’s see maybe we want somebody from united kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everyone 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 certainly there are a number of individuals that have rather 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 might make four or minus 50 there’s no 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 verify are you okay with this and off you go now another method 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 rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is excellent so actually for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Fifo.
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