We get this a lot on our site and the answer to Etoro Steve And Dave….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not wish to decide 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 take place the first of all you can employ an investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are created 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 also now if you’re brand new to an overall please bear in mind this platform is rather 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 discovering please do study the platform do not simply assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you actually get utilized to the structure of the site 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 danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has actually said they have actually made profit 14 months in a row purchase these options since you think is the ideal ones for you and that being said let’s dive straight 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 becomes part of social trading which is one element that is most likely.
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popular for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved truly important you understand what are the costs of this now with any platform there will be some cost to certainly 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 no charge websites then may not charge you for actually buying and selling etfs or funds private commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you in fact begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges actually essential to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission costs are totally free however there are a number of other charges the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling 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 certain that i’m just withdrawing when i absolutely need to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a cost to remember the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s great that fits me.
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a great deal 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 use anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really offering you in regards to 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 state give me us dollars rather you have to pay their charges now the terrific feature of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really good utilizing that part of their site won’t definitely limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you
on is essentially the distinction that belongs to the financial investment platform between the buy rate and the sale 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 value 599 per share in tesla that in fact indicates that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the value of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you each time you do a buyer’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that happen it simply 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 want to sell it which is how they make a bit of cash on those spread out costs it’s generally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit cash now the last accomplishment is called an
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over night fee now this is really crucial if you’re really utilizing cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the exact same day okay there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising 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 utilize which indicates you’re really buying the precise property instead of utilizing take advantage of anyhow you won’t get hit with these charges but these fees are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you go into the assistance section this isn’t the over night 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 stated to cfds there are some added fees naturally depending upon what you are investing in as well this is on your own so keep that in mind but complete costs are completely within their assistance info all right and we discussed along with totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of actually using these copy operates they do not have any extra charges on top of the typical fees that
exist now what you need to bear in mind though is these potentially handled by other individuals entirely or in some cases have created portfolios you’ve got a genuine individual doing the management you have to make sure you select the individual that’s right for you just like any line of work this is your financial properties so we definitely require 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 want to use this function we’ve got a number of various alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real money or a virtual platform virtual methods 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 need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own money but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a terrific option for you once again to test the theories alright you might want to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe play with it certainly you may have missed out on gains and losses throughout that time naturally if you had actually invested your genuine cash it permits you to build self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back 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 keep 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 risk profile is now what do i imply by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just implies am i alright with possibly losing a good amount of this financial investment or getting as
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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose cash however that equally suggests they’ll lose eventually in their journey undoubtedly people do earn money as well and i have actually got videos everything about how you can make certain you’re one of individuals to actually make money but in this circumstance make certain you research study your risk level would you be alright giving your money to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want 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 really 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 someone that you expensive actually following so let’s see perhaps we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has fulfilled that criteria and it does provide 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 undoubtedly there are a variety of people that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i purchase too which is good so actually for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Steve And Dave.
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