We get this a lot on our site and the answer to How To Become Etoro Copy Trader….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you actually want to invest and you want someone to do it for you there’s only a couple of ways that that can occur the first off you can work with an investment portfolio manager they’ll typically charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds particular funds are developed 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 bear in mind this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you actually 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they have actually made earnings 14 months in a row buy these choices since you think is the best ones for you and that being stated let’s dive directly in [Music] The 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 element that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not usually 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 money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked 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 cash in so we’re going to also cover is the costs involved actually crucial you understand what are the costs of this now with any platform there will be some cost to certainly 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 a few of the no cost websites then may not charge you for actually buying and selling funds or etfs private commodities individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 understand before you really begin purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission charges are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously put cash in now if you remain 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 later however when you wish to withdraw your money so you sell your shares you sell 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those alternatives that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a charge to remember the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that fits 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 excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists 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 state offer me us dollars instead you need to pay their fees now the great feature of however when you’ve converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great using that part of their website won’t certainly restrict you in any way however we need to be aware of two other charges the very first being what’s called spread charges all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that becomes part of the financial investment platform in between the buy price 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 website today tesla’s dollar value 599 per share in tesla that really suggests that when you want to purchase or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the present cost of tesla is the value of a share what’s called spread fees is the difference then in fact to buy 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 purchaser’s share so keep that in mind undoubtedly 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 okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction 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 small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last feat is called an
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overnight charge now this is really essential if you’re really using cfds yourself also an overnight fee is when you’re not doing that buy sell transaction in the very same day all right there’s then an overnight cost charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which indicates you’re really buying the exact possession instead of utilizing leverage anyway you will not get hit with these charges but these costs are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you go into the assistance section this isn’t the overnight charges information you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some service charges obviously depending on what you are investing in too this is on your own so keep that in mind but complete fees are completely within their help details alright and we discussed in addition to complimentary 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 five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of in fact using these copy operates they do not have any extra costs on top of the regular costs that
exist now what you require to remember though is these potentially handled by other individuals completely or sometimes have actually developed portfolios you have actually got a real person doing the management you need to make sure you select the person that’s right for you similar to any type of work this is your monetary properties so we definitely require to make sure it’s the best individual for us prior to 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 various alternatives for us firstly 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 ways 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 require to put in your credit card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is an excellent option for you once again to test the theories okay you might want to purchase tesla or apple or this etf why not use the virtual option as a method to kind of safe play with it undoubtedly you might have missed out on gains and losses throughout that time of course if you had actually invested your real money it permits you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain 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 say the longer you’re leaving your investments the riskier you can be risk simply means am i okay with possibly losing a good amount of this investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly suggests they’ll lose eventually in their journey clearly people do generate income also and i’ve got videos all about how you can make certain you are among individuals to in fact earn money but in this scenario make sure you research your risk level would you be all right providing your cash to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re somebody who isn’t wanting to be that risky don’t choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold and even oil plus more conventional etfs and index funds you may 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 actually utilize this too truly quickly over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually look for somebody that you expensive really following so let’s see maybe we desire someone from joined kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has met that requirements and it does provide you a risk aspect too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it’s like 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 might make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to verify are you okay with this and off you go now another way to actually 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 purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine really that i purchase too which is good so really for me understanding what i like to buy my specific 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 kind of main food companies and you have actually got you know pharmaceutical and production business as that. How To Become Etoro Copy Trader.
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