We get this a lot on our site and the answer to Etoro Spay….Questions that i speak with new investors what if you’re brand new to investing you merely do not wish to choose what you in fact wish to invest and you want someone to do it for you there’s just a number of ways that that can happen the first off you can hire a financial investment portfolio supervisor they’ll typically charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are produced once 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 as well now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get utilized to the structure of the website and after that when you’re ready to use 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 purchasing real business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which being stated 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 aspect that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really important you comprehend what are the expenses of this now with any platform there will be some expense to obviously 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 a few of the absolutely no charge 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 charges on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with fees actually crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other costs the first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 later on but when you want to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice 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 perhaps 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 using trading two and two open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee 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 state offer me us dollars instead you have to pay their costs now the terrific feature of however when you have actually converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their website will not certainly limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is basically the distinction that belongs to the investment platform between the buy rate and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that in fact implies 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 again so the current cost of tesla is the value of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you say okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread out fees it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last feat is called an
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overnight cost now this is really important if you’re actually utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the very same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which indicates you’re really purchasing the exact possession instead of using utilize anyway you will not get hit with these costs however these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you go into the help area this isn’t the over night charges information you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which only applies as i said to cfds there are some surcharges of course depending on what you are investing in as well this is on your own so keep that in mind however complete costs are entirely within their aid information fine and we discussed along with totally free to deposit in but there’s a 5 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 cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of in fact using these copy works they don’t have any additional charges on top of the typical charges that
exist now what you require to keep in mind though is these possibly handled by other people completely or sometimes have produced portfolios you have actually got a real person doing the management you have to make certain you select the individual that’s right for you similar to any kind of work this is your financial assets so we absolutely require to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent choice for you once again to evaluate the theories okay you may want to purchase tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it obviously you might have missed out on gains and losses throughout that time of course if you had invested your genuine money it allows you to build confidence understand the platform so that’s one choice 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 individuals and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i suggest by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i okay with potentially losing an excellent amount of this financial investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose money but that equally indicates they’ll lose at some point in their journey certainly individuals do generate income as well and i’ve got videos all about how you can make certain you are among the people to really earn money but in this situation make certain you research your threat level would you be all right giving your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re buying fully if you’re somebody who isn’t wishing to be that risky don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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like gold or even 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 in fact utilize this too really easily over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to in fact search for somebody that you fancy in fact following so let’s see perhaps we want somebody from united kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has fulfilled that criteria and it does provide you a danger factor 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 people that have quite high returns
remember it resembles 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 4 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 know ask you to validate are you alright with this and off you go now another way 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 buying 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 good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine really that i invest in too which is excellent so in fact for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the type of primary food business and you’ve got you know pharmaceutical and production business as that. Etoro Spay.
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