We get this a lot on our site and the answer to Etoro Millionaire….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not want to decide what you really want to invest and you desire somebody to do it for you there’s just a couple of ways that that can happen the first off you can work with a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can buy 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 as well now if you’re brand new to an overall please bear in mind this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform don’t simply presume due to the fact that 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 alternative also so you in fact get utilized to the structure of the site and then 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 companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row purchase these choices because you think is the best ones for you which being said let’s dive straight in [Music] so the 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 probably.
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popular for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates 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 involved truly important you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then might not charge you for really buying and selling funds or etfs specific commodities individual 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 understand prior to you in fact begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really crucial to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
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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 wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state fine that’s rather expensive 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 choices that they have a lot of platforms certainly are free 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 once every six months you understand depends entirely how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually providing 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 offer me us dollars rather you have to pay their fees now the fantastic aspect of however when you’ve transformed your money you do not need to invest it immediately that dollar worth can being 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform in between the buy price and the price fine 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 really indicates that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the value of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you state okay 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 sell it which is how they make a little bit of cash on those spread charges it’s usually extremely 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 bit cash now the last accomplishment is called an
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overnight cost now this is actually essential if you’re really utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell transaction in the same day alright there’s then an over night cost charged and even if you go from the friday to the monday prior to sailing a weekend charge 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 utilizing utilize anyhow you will not get hit with these costs however these costs are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you go into the assistance area this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some surcharges of course depending on what you are purchasing also this is on your own so keep that in mind but complete charges are entirely within their assistance information okay and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of actually using these copy works they don’t have any extra fees on top of the regular costs that
exist now what you require to remember though is these possibly handled by other individuals entirely or often have created portfolios you’ve got a genuine individual doing the management you have to make certain you choose the individual that’s right for you just like any profession this is your monetary possessions so we absolutely need 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 wish to use this function we have actually got a number of different options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are using 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 real money maybe this is a great choice for you again to test the theories alright you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it clearly you may have lost out on gains and losses throughout that time obviously if you had invested your real money it allows you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact 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 danger profile is now what do i suggest by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies 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 everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose money but that similarly implies they’ll lose eventually in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can make sure you’re one of individuals to in fact make money but in this circumstance ensure you research study your risk level would you be okay providing your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not choose someone who’s completely 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 traditional 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 use this too truly easily over here you can copy individuals now it will offer you a great deal of choices and you can use the system to in fact look for somebody that you elegant in fact following so let’s see possibly we desire someone from unified kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has fulfilled that requirements and it does give you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know 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 really investing in so let’s enter 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 kind of into those blue box and the tech market she’s got some of mine in fact that i buy too which is excellent so really for me understanding what i like to invest in 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 likewise got a little bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Millionaire.
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