We get this a lot on our site and the answer to Exodus Wallet App Vs Etoro Pro App….Concerns that i speak with new investors what if you’re brand new to investing you just don’t wish to decide what you in fact want to invest and you desire somebody to do it for you there’s just a couple of ways that that can occur the first of all you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular funds are developed 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 bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you really get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you pick 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 danger and we need to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row purchase these choices due to the fact that you believe 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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well-known for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests 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 fees included actually critical you understand what are the costs 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 some of the absolutely no cost sites then might not charge you for really buying and selling funds or etfs private commodities specific 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 fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges really crucial to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission charges are free nevertheless there are a number of other fees the first one is withdrawal costs so you can certainly 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 but when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a fee to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’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 buying or even some crypto so i’m good 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 anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 state provide me us dollars rather you have to pay their costs now the terrific feature of though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase 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 really great using that part of their website will not certainly limit you in any way nevertheless we have to know two other charges the first being what’s called spread fees fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is generally the distinction that is part of the 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 today tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing price of tesla is the worth of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread out costs it’s normally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last feat is called an
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overnight cost now this is actually crucial if you’re in fact using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell deal in the exact same day all right there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re really purchasing the precise possession rather than utilizing leverage anyway you will not get hit with these charges however these charges are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you enter into the assistance area this isn’t the overnight fees information you can see exactly the breakdown and it’ll inform 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 service charges of course depending upon what you are purchasing too this is on your own so keep that in mind but complete charges are completely within their aid info fine and we discussed in addition to free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of actually using these copy works they do not have any extra costs on top of the typical costs that
exist now what you need to keep in mind though is these potentially managed by other people entirely or in some cases have actually produced portfolios you’ve got a real individual doing the management you have to make certain you pick the individual that’s right for you similar to any profession this is your monetary assets so we absolutely require to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of different choices for us to start with if you’re brand new to investing i want 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 cash that you’re investing you won’t require 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 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 possibly this is an excellent option for you again to check the theories alright you might want to purchase tesla or apple or this etf why not use the virtual alternative as a way to sort of safe have fun with it clearly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it permits you to construct self-confidence comprehend 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 really how to copy individuals and copy portfolios now here’s something to remember prior to you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply implies am i fine with potentially losing an excellent amount of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose money but that equally suggests they’ll lose eventually in their journey obviously individuals do make money as well and i’ve got videos everything about how you can make sure you are among individuals to actually make money but in this scenario make sure you research study your risk level would you be alright offering your cash to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that risky don’t choose someone who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too actually quickly over here you can copy individuals now it will give you a great deal of options and you can utilize the system to really look for somebody that you expensive actually following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has met that criteria and it does give you a risk element as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm 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 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 great to understand 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 purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Exodus Wallet App Vs Etoro Pro App.
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