We get this a lot on our site and the answer to Etoro Questionnaire….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t want to choose what you in fact wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can occur the to start with you can employ an investment portfolio supervisor they’ll normally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are developed again with an account supervisor 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 keep in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you really get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being stated let’s dive directly 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 belongs to social trading which is one element that is most likely.
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well-known for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that means if for example 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 also cover is the costs included truly critical you understand 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 zero fee websites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
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there’ll be costs on other parts possibly 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 know before you really start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs actually crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission fees are complimentary however there are a couple of other charges the very first one is withdrawal fees so you can obviously 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 sell your shares you sell your products whatever you’re selling 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 ensure that i’m just withdrawing when i definitely require to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a great deal of platforms obviously are totally 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 understand depends totally how you’re investing but that is a cost to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and 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 utilizing trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering you in terms of 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 say provide me us dollars rather you have to pay their fees now the fantastic thing about though when you have actually converted your cash you do not have to invest it immediately that dollar value 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their site won’t definitely limit you in any way however we have to know 2 other costs the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is generally 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 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 means that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you state alright 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 wish to sell it and that is how they make a little bit of money on those spread out costs it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit cash now the last task is called an
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over night fee now this is actually important if you’re really using cfds yourself also an overnight fee is when you’re not doing that buy sell transaction in the same day fine there’s then an overnight cost charged or even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which implies you’re actually buying the specific asset rather than using take advantage of anyhow you will not get hit with these costs however these charges are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you enter into the help section this isn’t the over night fees info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some additional charges of course depending on what you are purchasing as well this is on your own so keep that in mind however complete charges are totally within their assistance info fine and we talked about along with totally free to deposit in however there’s a 5 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 charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of actually utilizing these copy works they don’t have any extra costs on top of the typical charges that
are there now what you require to bear in mind though is these potentially handled by other individuals completely or often have actually created portfolios you’ve got a genuine person doing the management you have to make sure you select the individual that’s right for you much like any kind of work this is your monetary assets so we definitely need to make sure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a number of various choices 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 money or a virtual platform virtual means i think 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 charge card information or anything you can basically have this virtual portfolio simulate as if you are using your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is a terrific option for you once again to check the theories okay you may want to buy tesla or apple or this etf why not use the virtual option as a method to sort of safe play with it obviously you might have missed out on gains and losses during that time naturally if you had invested your genuine money it allows you to build confidence understand 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 actually how to copy people and copy portfolios now here’s something to bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain 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 financial investments the riskier you can be risk simply suggests am i alright with possibly losing an excellent amount of this financial investment or acquiring as
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well now remember everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 people will lose money but that similarly indicates they’ll lose eventually in their journey certainly people do make money as well and i’ve got videos everything about how you can ensure you’re one of individuals to actually generate income but in this situation make sure you research your threat level would you be alright giving your money to another person which is effectively what you’re doing and trusting them make sure you understand what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t pick somebody who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too truly easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to in fact look for somebody that you expensive really following so let’s see maybe we want somebody from united kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has satisfied that requirements and it does offer you a risk aspect also 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 people that have rather high returns
keep in mind it’s like anything to do with the news or predictions 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 chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you all right 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 investing in 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 kind of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is good so actually for me knowing what i like to purchase 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 chooses she’s also got a little bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production companies as that. Etoro Questionnaire.
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