We get this a lot on our site and the answer to Etoro Vs Others….Questions that i speak with new investors what if you’re brand new to investing you simply do not wish to decide what you in fact wish to invest and you want someone to do it for you there’s only a couple of ways that that can happen the first of all you can hire an investment portfolio manager they’ll normally charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds particular funds are developed once 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 also now if you’re brand new to a total please keep in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash 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 utilize 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 purchasing real business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they have actually made revenue 14 months in a row invest in these choices because you think is the ideal 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 element that is most likely.
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famous for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be imitated 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 really important you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 some of the absolutely no cost websites then might not charge you for really buying and selling etfs or funds individual products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission charges are totally free however there are a number of other fees the first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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and it’s automatically 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 offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option 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 buying 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 using trading two and 2 open market anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 give me us dollars rather you have to pay their charges now the fantastic thing about though when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 charges so that’s really great using that part of their site will not definitely restrict you in any way nevertheless we need to be aware of two other costs the first being what’s called spread charges alright and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform between the buy cost and the sale price fine 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 means that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the existing rate of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind obviously 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 fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread out costs it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit money now the last feat is called an
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overnight charge now this is really essential if you’re actually utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer deal in the very same day fine there’s then an over night cost charged and 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 really buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re in fact buying the specific asset instead of utilizing take advantage of anyway you won’t get hit with these charges however these charges are if you’re using leverage and cfds and then you’re going to have these charges 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 fees information 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 over night or you’re doing over weekends which only uses as i said to cfds there are some surcharges of course depending on what you are purchasing also this is on your own so keep that in mind but complete costs are totally within their help details fine and we discussed as well as 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 charge now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of in fact using these copy functions they do not have any additional costs on top of the regular costs that
exist now what you require to keep in mind though is these potentially managed by other individuals entirely or sometimes have created portfolios you’ve got a real person doing the management you have to ensure you pick the individual that’s right for you just like any type of work this is your monetary possessions so we definitely require to ensure it’s the ideal person for us prior to 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 alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash 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 essentially have this virtual portfolio mimic as if you are utilizing your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is a fantastic choice for you again to check the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual option as a way to kind of safe play with it obviously you might have missed out on gains and losses throughout that time naturally if you had invested your genuine cash 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 genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to remember prior to you pick someone 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 indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply means am i fine with potentially losing a good quantity of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that equally means they’ll lose at some point in their journey obviously individuals do make money too and i have actually got videos all about how you can ensure you are among individuals to actually generate income however in this circumstance make sure you research study your danger level would you be alright giving your cash to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re someone who isn’t wanting to be that risky do not choose somebody who’s totally into crypto or currency conversion think about it you ‘d most likely want 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 state you can in fact utilize this too actually quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to actually search for someone that you elegant actually following so let’s see possibly we desire someone from united kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has actually satisfied that requirements and it does provide you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now obviously 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 imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another method to in fact 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 go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is good so actually for me understanding what i like to purchase 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 chooses 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 Vs Others.
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