We get this a lot on our site and the answer to Etoro Vs Boomdirect….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t wish to choose what you really want to invest and you want someone to do it for you there’s only a couple of ways that that can take place the first of all you can employ an investment portfolio manager they’ll normally charge a rather a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can purchase 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 too now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get used 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 purchasing genuine companies if you choose 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 need to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row purchase these choices since you believe is the right ones for you which being stated let’s dive straight in [Music] so the 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 probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for example 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 also cover is the costs involved really critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might 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 possibly 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 show you the charges with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission charges are totally free 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 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 however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state 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 charges are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a charge to keep in mind the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
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a lot 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 use anyone so if you’re using trading two and two free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 need to pay their charges now the great feature of however when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy 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 really excellent using that part of their site won’t definitely restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is essentially the distinction that becomes part of the investment platform between the buy cost and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really indicates that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the present cost of tesla is the value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread out charges it’s normally exceptionally 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 task is called an
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overnight charge now this is really crucial if you’re actually using cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer deal in the exact same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this only 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 really buying the exact possession rather than utilizing take advantage of anyway you won’t get hit with these charges however these fees are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you enter into the aid area this isn’t the over night charges details you can see precisely 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 just applies as i stated to cfds there are some additional charges of course depending upon what you are purchasing also this is on your own so keep that in mind but full fees are completely within their help info fine and we talked about along with complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two various methods of in fact using these copy operates they don’t have any extra costs on top of the regular costs that
exist now what you need to remember though is these possibly handled by other people completely or in some cases have actually produced portfolios you’ve got a real 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 monetary properties so we definitely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various options 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 cash or a virtual platform virtual methods i think 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 charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a terrific alternative for you once again to evaluate the theories alright you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it certainly you might have lost out on gains and losses during that time of course if you had invested your real money it allows you to develop confidence understand 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 really how to copy people and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i mean by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just suggests am i all right with potentially losing a good amount of this investment or acquiring as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose cash however that equally indicates they’ll lose at some point in their journey undoubtedly people do make money too and i have actually got videos everything about how you can ensure you are among the people to actually make money but in this scenario ensure you research your threat level would you be all right giving your money to someone else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous do not pick someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really use this too really quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to really look for someone that you elegant actually following so let’s see possibly we desire somebody from joined kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has actually fulfilled that criteria and it does offer you a threat 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 people that have rather high returns
remember it’s like 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 chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to verify are you all right with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually investing in so let’s enter 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 certainly like type of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is great so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Vs Boomdirect.
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