We get this a lot on our site and the answer to Etoro Vs Webull Vs M1 Finance….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can happen the to start with you can hire a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are produced 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 an overall please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform don’t simply presume since i utilize 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 choice as well so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that 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 probably.
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famous for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be imitated 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 also cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for in fact buying and selling funds or etfs individual commodities individual 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 show you the charges with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really important to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling okay so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms clearly are free 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 as soon as every six months you know depends entirely how you’re investing however that is a cost to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’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 or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact offering 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 give me us dollars rather you need to pay their charges now the fantastic thing about however when you’ve transformed your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent using that part of their site will not definitely limit you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you
on is generally the difference that belongs to the financial investment platform in between the buy price and the 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 actually means that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing rate of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase 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 whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to offer 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 distinction in between if you’re buying it then you wish to sell it which is how they make a little 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 however that’s one location every investment company will again make a little bit money now the last feat is called an
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overnight charge now this is truly essential if you’re really utilizing cfds yourself as well an overnight charge is when you’re not doing that buy sell deal in the very same day all right there’s then an overnight cost charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one take advantage of which means you’re really buying the specific possession instead of using utilize anyhow you will not get hit with these fees however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you enter into the help area this isn’t the overnight costs details 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 just applies as i said to cfds there are some surcharges of course depending on what you are buying as well this is on your own so keep that in mind however full costs are entirely within their assistance information alright and we spoke about in addition to free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of in fact utilizing these copy functions they don’t have any extra charges on top of the regular costs that
exist now what you require to keep in mind though is these possibly handled by other people completely or in some cases have actually developed portfolios you have actually got a real individual doing the management you need to ensure you select the individual that’s right for you much like any type of work this is your monetary possessions so we absolutely require to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is an excellent alternative for you once again to evaluate the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it certainly you may have missed out on gains and losses throughout that time of course if you had invested your genuine money it permits you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return 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 understand what your danger profile is now what do i imply by that undoubtedly 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 implies am i alright with potentially losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the figure 75 people will lose cash however that equally suggests they’ll lose at some time in their journey clearly people do make money also and i have actually got videos all about how you can make certain you are among the people to really earn money but in this circumstance ensure you research your risk level would you be fine giving your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wishing to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not desire 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 really easily over here you can copy people now it will give you a lot of choices and you can utilize the system to actually look for someone that you expensive really following so let’s see perhaps we want someone from united 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 discover everybody who has actually fulfilled that criteria and it does offer you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way 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 okay with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine in fact that i buy too which is good so in fact for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Vs Webull Vs M1 Finance.
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