We get this a lot on our site and the answer to Etoro Open Book Indicator….Concerns that i speak with new investors what if you’re brand new to investing you simply do not want to decide what you really want to invest and you desire somebody to do it for you there’s just a number of manner ins which that can happen the first off you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your earnings will go to them the other thing is obviously you can buy 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 as well now if you’re brand new to a total please bear in mind this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you really get utilized 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 danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the best ones for you and that being said 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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popular for it’s the choice to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 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 likewise cover is the costs included truly vital you understand what are the costs of this now with any platform there will be some expense to clearly 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 a few of the absolutely no fee websites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and lastly some finest advice finest 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 charges truly crucial to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can certainly put cash in now if you’re 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 wish to withdraw your cash so you sell your shares you sell your commodities 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say 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 charges are simply one of those alternatives that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a charge to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that suits me.
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a great deal 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 use anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 state give me us dollars instead you need to pay their charges now the excellent thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good utilizing that part of their website will not certainly restrict you in any way however we need to understand 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is basically the distinction that is part of the investment platform in between the buy rate and the price all right 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 value 599 per share in tesla that in fact means 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 again so the current price of tesla is the worth of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you say all right well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit money now the last task is called an
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over night charge now this is really important if you’re actually using cfds yourself too an overnight cost is when you’re not doing that buy sell deal in the very same day okay there’s then an overnight cost 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 really buying out the etf the stock the product and using time one utilize which indicates you’re in fact buying the precise asset rather than using take advantage of anyway you won’t get hit with these charges but these charges are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the help section this isn’t the over night charges info 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 and that only applies as i said to cfds there are some additional charges of course depending upon what you are purchasing also this is on your own so keep that in mind however full fees are entirely within their help details fine and we talked about along with totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of really using these copy works they do not have any additional costs on top of the regular fees that
are there now what you require to remember though is these possibly managed by other people entirely or in some cases have actually developed portfolios you’ve got a genuine individual doing the management you have to make certain you pick the individual that’s right for you just like any line of work this is your monetary assets so we definitely need to make sure it’s the right 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 various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are using your own money but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is a great choice for you once again to test the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it certainly you may have lost out on gains and losses during that time naturally if you had invested your real money it permits you to develop confidence understand the platform so that’s one alternative 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 before you pick 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 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 simply suggests am i okay with possibly losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly suggests they’ll lose eventually in their journey obviously individuals do earn money too and i’ve got videos all about how you can make sure you are among individuals to in fact generate income however in this circumstance make sure you research your danger level would you be fine offering your cash to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous don’t pick someone 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 perhaps oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too truly quickly over here you can copy people now it will give you a great deal of options and you can utilize the system to really look for somebody that you fancy really following so let’s see perhaps we want someone from united kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has satisfied that requirements and it does offer you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to confirm are you fine with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great 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 in fact that i invest in too which is excellent so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise got a bit more um of the sort of primary food business and you’ve got you understand pharmaceutical and production business as that. Etoro Open Book Indicator.
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