We get this a lot on our site and the answer to Etoro Wallet Vs Exodus….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t want to decide what you really want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can take place the to start with you can hire a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific 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 too now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which obviously 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 discovering please do study the platform don’t simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash 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 purchasing real companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row invest in these options since you think is the right ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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well-known for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually 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 purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge websites then might not charge you for in fact buying and selling etfs or funds private products private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to understand before you really start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually important to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling okay so commission costs are totally free however there are a number of other costs the very first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk cash.
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and it’s instantly 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 offer your shares you offer your commodities 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say 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 fees somewhere and withdrawal costs are just one of those options that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon 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 fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 state provide me us dollars rather you have to pay their charges now the fantastic aspect of however when you’ve converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good using that part of their website won’t certainly limit you in any way nevertheless we have to know 2 other charges the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy rate and the price all right it’s their premium on doing both those two 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 offer or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state fine 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 little bit of money on those spread out costs it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last feat is called an
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overnight cost now this is actually crucial if you’re in fact utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer transaction in the very same day fine there’s then an over night charge charged and even if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which means you’re really purchasing the specific possession rather than using leverage anyway you won’t get hit with these charges however these charges are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the help section this isn’t the overnight fees info 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 applies as i said to cfds there are some surcharges naturally depending on what you are buying as well this is on your own so keep that in mind but complete costs are entirely within their aid details all right and we spoke about as well as totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical 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 different methods of in fact utilizing these copy functions they do not have any additional fees on top of the typical fees that
exist now what you require to remember though is these potentially handled by other people entirely or often have actually created portfolios you’ve got a real individual doing the management you have to make sure you select the individual that’s right for you similar to any profession this is your financial possessions so we definitely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different options 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 real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is an excellent option for you again to check the theories okay you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you may have lost out on gains and losses during that time naturally if you had invested your real money it enables you to develop self-confidence understand 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 actually how to copy individuals 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 comprehend what your threat profile is now what do i suggest by that certainly 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 suggests am i okay with possibly 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 earn money you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly means they’ll lose at some point in their journey obviously people do earn money also and i’ve got videos everything about how you can make certain you are among the people to really earn money however in this circumstance make certain you research study your threat level would you be fine providing your cash to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous do not pick someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to actually look for somebody that you fancy actually following so let’s see possibly we want someone from united kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has met that criteria and it does offer you a danger 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
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to verify are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact buying so let’s enter 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 understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is good so actually for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Etoro Wallet Vs Exodus.
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