We get this a lot on our site and the answer to Etoro Quora….Questions that i hear from new investors what if you’re brand new to investing you simply don’t wish to choose what you actually want to invest and you desire somebody to do it for you there’s just a number of ways that that can happen the firstly you can work with an investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course 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 also now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can use 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 utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick 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 danger and we have to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row invest in these options since you believe is the ideal ones for you which being said let’s dive straight 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 probably.
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famous for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies 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 also 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 undoubtedly 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 a few of the zero fee websites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you actually start buying 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 start with fees actually important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission fees are complimentary however there are a couple of other costs the very first one is withdrawal fees 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 on however when you want to withdraw your cash so you sell your shares you offer your commodities 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of those choices that they have a great deal of platforms clearly 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 six months you understand depends completely how you’re investing but that is a fee to bear in mind the second fee 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 lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 need to pay their fees now the great aspect of though when you’ve converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 additional charges so that’s actually good using that part of their site won’t definitely limit you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is essentially the distinction that is part of the investment platform in between the buy rate 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 today tesla’s dollar value 599 per share in tesla that really means that when you wish to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread charges 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 small amount of benefit from you each time you do a purchaser’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to provide 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 wish to offer it which is how they make a little bit of cash on those spread charges it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last accomplishment is called an
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overnight charge now this is actually crucial if you’re actually using cfds yourself also an overnight cost is when you’re refraining from doing that buy sell deal in the same day alright there’s then an overnight fee charged or even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which indicates you’re in fact buying the precise possession rather than using take advantage of anyway you will not get hit with these charges but these costs 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 same day so let’s state if you go into the assistance section this isn’t the over night costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some additional charges obviously depending on what you are purchasing too this is on your own so keep that in mind but full costs are totally within their help details all right and we discussed in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever 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 different ways of actually utilizing these copy operates they do not have any additional costs on top of the typical charges that
are there now what you require to keep in mind though is these possibly managed by other people entirely or sometimes have actually created portfolios you’ve got a real individual doing the management you have to make sure you select the person that’s right for you just like any kind of work this is your financial properties 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’ve got a number of various options for us first of all 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 cash that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are using your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a great alternative for you once again to check the theories fine you may want to buy tesla or apple or this etf why not use the virtual option as a way to kind of safe have fun with it clearly you might have missed out on gains and losses during that time obviously if you had invested your real cash it permits you to build 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 really how to copy people and copy portfolios now here’s something to keep in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i indicate by that clearly 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 run the risk of simply indicates am i all right with potentially losing a good amount of this financial investment or getting as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose cash but that equally indicates they’ll lose at some time in their journey clearly individuals do earn money as well and i’ve got videos all about how you can make sure you are among the people to really make money but in this situation ensure you research your threat level would you be alright offering your money to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous don’t choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really use this too actually easily over here you can copy people now it will offer you a lot of choices and you can use the system to actually look for someone that you fancy 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 have actually gained 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 offer you a risk factor 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 variety of individuals that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they might make 4 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 alright with this and off you go now another way 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 actually 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 know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine really that i buy too which is good so actually for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s also got a bit more um of the type of main food companies and you’ve got you know pharmaceutical and production companies as that. Etoro Quora.
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