We get this a lot on our site and the answer to Etoro Unionpay….Questions that i speak with new investors what if you’re brand new to investing you merely don’t wish to decide what you really wish to invest and you want someone to do it for you there’s only a couple of manner ins which that can happen the firstly you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your profits 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 as well now if you’re brand new to a total please keep in mind this platform is rather sophisticated 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 finding out about please do study the platform do not simply presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger 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 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 most likely.
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popular for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests 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 likewise cover is the fees included really important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no cost websites then might not charge you for actually buying and selling etfs or funds private products individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges really important to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a number of other costs 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 instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer 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 five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say alright 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 great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing but that is a fee to remember the second charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s fine that fits 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is standard they have i expect stuck to whatever charge 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 exists 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 say offer me us dollars instead you need to pay their costs now the fantastic feature of though when you have actually transformed your cash you do not have 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 buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site won’t certainly limit you in any way however we need to be aware of two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is generally the distinction that belongs to the financial investment platform in between the buy price and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the current cost of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that occur it just 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 and that is how they make a little bit of cash on those spread charges it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last feat is called an
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overnight cost now this is really important if you’re really utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell deal in the exact same day okay there’s then an over night cost charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which implies you’re really buying the exact possession rather than using utilize anyhow you will not get hit with these charges however these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the assistance area this isn’t the over night costs 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 overnight or you’re doing over weekends which only applies as i stated to cfds there are some additional charges obviously depending on what you are investing in too this is on your own so keep that in mind however complete charges are entirely within their assistance details okay and we discussed as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of actually utilizing these copy works they don’t have any extra charges on top of the normal costs that
are there now what you need to keep in mind though is these possibly managed by other individuals entirely or in some cases have produced portfolios you have actually got a real individual doing the management you need to make sure you select the individual that’s right for you much like any kind of work this is your financial properties so we definitely need to make certain it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of different choices for us first of all if you’re brand new to investing i want 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 will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash perhaps this is a terrific alternative for you again to evaluate the theories fine you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time obviously if you had invested your real cash it permits you to build self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure 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 say the longer you’re leaving your financial investments the riskier you can be run the risk of just means am i alright with potentially losing a good amount of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose cash however that similarly suggests they’ll lose eventually in their journey obviously individuals do make money as well and i’ve got videos everything about how you can make certain you’re one of the people to really generate income but in this circumstance ensure you research study your danger level would you be all right offering your cash to someone else 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 do not pick someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may 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 really quickly over here you can copy people now it will offer you a great deal of options and you can use the system to really look for somebody that you expensive actually following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has fulfilled that requirements and it does provide you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather 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 four or minus 50 there’s no way to guarantee 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 validate are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can actually 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 bit so that’s great to know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is excellent so in fact for me understanding what i like to invest in my specific 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 also got a little bit more um of the type of primary food business and you have actually got you understand pharmaceutical and production companies as that. Etoro Unionpay.
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