We get this a lot on our site and the answer to Etoro Vs Robinhood Reddit….Concerns that i speak with new investors what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can occur the first of all you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are produced 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 an overall please remember this platform is rather innovative you can do cfds which naturally 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 just presume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you actually get utilized to the structure of the site and after that when you’re ready to utilize 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 select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row buy these choices because you think is the right ones for you which being stated let’s dive directly 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’s part of social trading which is one aspect that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not normally 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 cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices and generally 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 investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really important you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 zero charge sites then may not charge you for in fact buying and selling etfs or funds specific products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with charges truly crucial to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling alright so commission costs are totally free nevertheless there are a couple of other costs the very first one is withdrawal costs 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 immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you sell your products 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those alternatives that they have a lot of platforms certainly are free 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 when every six months you know depends totally how you’re investing however that is a charge to bear in mind the second fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that suits 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 cost now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 say offer me us dollars rather you need to pay their costs now the great feature of though when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way however we need to understand two other costs the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is generally the distinction that becomes part of the financial investment platform in between the buy price and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread fees is the difference 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 make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you state alright well why does that occur it just 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 sell it and that is how they make a bit of cash on those spread out costs it’s typically 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 little bit money now the last accomplishment is called an
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over night charge now this is really important if you’re really utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy sell deal in the exact same day all right there’s then an over night charge charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which implies you’re in fact buying the specific asset instead of utilizing leverage anyhow you will not get hit with these fees but these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the aid area this isn’t the over night fees info you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some additional charges of course depending on what you are purchasing too this is on your own so keep that in mind however complete fees are entirely within their assistance information okay and we spoke about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of really using these copy functions they do not have any extra costs on top of the normal costs that
exist now what you require to keep in mind though is these potentially managed by other individuals completely or sometimes have produced portfolios you’ve got a genuine individual doing the management you need to make sure you pick the individual that’s right for you similar to any type of work this is your monetary assets so we absolutely need to make sure it’s the best 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 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 alternative to invest real 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 won’t need 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 perhaps this is a fantastic choice for you again to evaluate the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe play with it obviously you might have missed out on gains and losses throughout that time obviously if you had invested your real money it allows you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i suggest 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 run the risk of simply means am i okay with potentially losing a great amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose cash but that equally indicates they’ll lose at some point in their journey clearly people do generate income as well and i’ve got videos everything about how you can make sure you’re one of the people to actually earn money but in this circumstance ensure you research study your risk level would you be all right giving your cash to someone else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous do not select someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really use this too really easily over here you can copy individuals now it will give you a lot of options and you can use the system to really search for someone that you elegant in fact following so let’s see perhaps we want someone from unified kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has actually satisfied that criteria and it does offer you a danger aspect 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 number of individuals 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 4 or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another method to really 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 purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine really that i purchase too which is good so actually for me understanding what i like to buy my specific 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 bit more um of the kind of primary food business and you have actually got you understand pharmaceutical and production business as that. Etoro Vs Robinhood Reddit.
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