We get this a lot on our site and the answer to Etoro Wallet App Android….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to decide what you actually wish to invest and you want somebody to do it for you there’s just a couple of ways that that can occur the to start with you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally 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 quite innovative you can do cfds which obviously cfds are ways 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 due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually get utilized to the structure of the website and then when you’re ready to use your own money 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 real companies if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these choices because you believe is the best 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 aspect that is probably.
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famous for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be mimicked 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 included really important you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission fees are free however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 in the future however when you wish to withdraw your cash so you sell 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 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a cost to remember the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all 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 wish to use their platform go from uk to us then that conversion charge is there what are they really providing you in terms of 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 need to pay their fees now the excellent thing about however when you have actually converted your money you do not have to invest it immediately that dollar value can being 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 additional charges so that’s truly excellent utilizing that part of their website will not certainly restrict you in any way nevertheless we have to be aware of two other costs the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform in between the buy cost and the list 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 really means that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you say okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a bit of cash on those spread fees it’s normally incredibly small 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 money now the last feat is called an
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overnight cost now this is truly essential if you’re actually using cfds yourself too an overnight fee is when you’re refraining from doing that buy sell deal in the exact same day all right there’s then an over night fee charged and 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 actually buying out the etf the stock the product and utilizing time one leverage which implies you’re in fact purchasing the exact property rather than utilizing utilize anyway you won’t get hit with these costs but these fees are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you enter into the help section this isn’t the over night charges information you can see precisely the breakdown and it’ll tell 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 just applies as i stated to cfds there are some service charges of course depending upon what you are purchasing also this is on your own so keep that in mind however complete costs are completely within their help information fine and we talked about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really using these copy functions they don’t have any additional charges on top of the normal costs that
are there now what you need to keep in mind though is these possibly handled by other individuals totally or in some cases have actually developed portfolios you’ve got a genuine individual doing the management you have to make sure you pick the individual that’s right for you just like any type of work this is your financial possessions so we definitely require to make certain 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 couple of different choices 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 money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a great option for you again to evaluate the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it clearly you might have lost out on gains and losses during that time of course if you had invested your genuine cash it permits you to build 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 actually how to copy people and copy portfolios now here’s something to bear in mind before you select 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 imply 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 simply means am i fine with possibly losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally indicates they’ll lose at some point in their journey obviously people do earn money as well and i have actually got videos everything about how you can make certain you are among the people to in fact make money however in this scenario make sure you research your risk level would you be all right providing your money to another person which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong commodities
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like gold and even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too truly easily over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to actually look for somebody that you elegant really following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has satisfied that criteria and it does give you a threat factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four 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 confirm are you fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact buying 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 great to know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is great so in fact for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s also got a bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production business as that. Etoro Wallet App Android.
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