We get this a lot on our site and the answer to Etoro Vs Fidelity….Concerns that i hear from brand-new investors what if you’re brand new to investing you just do not want to choose what you really want to invest and you want someone to do it for you there’s only a number of manner ins which that can occur the first of all you can employ a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds particular funds are developed 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 remember this platform is quite sophisticated you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not just presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect 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 normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that indicates if for example 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 charges involved really important you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost websites then might not charge you for really buying and selling etfs or funds individual products private 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 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 know before you really start purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs truly essential to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously 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 however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a fee to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they in fact giving 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 say offer me us dollars rather you have to pay their fees now the great feature of however when you have actually transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their site will not definitely limit you in any way however we need to be aware of 2 other fees the first being what’s called spread costs okay 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 difference that belongs to the financial investment platform between the buy price and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 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 price you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread out costs it’s generally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit cash now the last feat is called an
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over night charge now this is actually essential if you’re really utilizing cfds yourself too an over night cost is when you’re not doing that buy sell deal in the same day alright there’s then an over night charge charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re really buying the precise possession rather than using leverage anyhow you will not get hit with these charges however these fees are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you go into the help section this isn’t the overnight charges info you can see exactly 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 uses as i said to cfds there are some additional charges naturally depending upon what you are purchasing as well this is on your own so keep that in mind however complete charges are totally within their help info alright and we discussed as well as free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of really utilizing these copy functions they do not have any additional charges on top of the regular charges that
are there now what you require to bear in mind though is these possibly managed by other people totally or sometimes have developed portfolios you’ve got a real individual doing the management you need to make sure you choose the person that’s right for you similar to any kind of work this is your monetary possessions so we absolutely need to ensure 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 various alternatives 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 ways 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 details or anything you can generally have this virtual portfolio imitate as if you are using your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a terrific option for you once again to evaluate the theories okay you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to type of safe play with it certainly you may have lost out on gains and losses during that time naturally if you had actually invested your real money it enables you to build confidence understand the platform so that’s one option 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 remember before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i indicate by that obviously 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 fine with possibly losing an excellent quantity of this investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 people will lose cash however that equally means they’ll lose at some time in their journey clearly individuals do generate income too and i’ve got videos all about how you can ensure you are among individuals to actually generate income but in this scenario ensure you research study your threat level would you be all right providing your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion consider it you ‘d probably want a foundation of strong products
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like gold or even oil plus more standard 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 really utilize this too actually quickly over here you can copy people now it will give you a great deal of options and you can use the system to in fact search for someone that you expensive actually following so let’s see perhaps we want someone from joined kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually met that criteria and it does offer you a danger aspect too so it tends to be the higher 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 indicate somebody will make 56 for you for the next 12 months they could 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 understand ask you to verify are you all right 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 really deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is excellent so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise got a bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Vs Fidelity.
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