We get this a lot on our site and the answer to How To Transfer Binance To Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to decide what you actually want to invest and you desire someone to do it for you there’s just a couple of ways that that can take place the first of all you can work with an investment portfolio manager they’ll normally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are created 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 remember this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you really get utilized to the structure of the site 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 threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the right 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 belongs to social trading which is one aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means 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 likewise cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine 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 no charge sites then may not charge you for in fact buying and selling funds or etfs specific products individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you really start buying 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 charges really crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling all right so commission charges are totally free however there are a couple of other costs the 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 immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five 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 say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those alternatives 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 mainly it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine 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 good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee 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 give me us dollars rather you need to pay their fees now the fantastic thing about though when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary 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 extra charges so that’s really great using that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other costs the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you
on is generally the difference that is part of the financial investment platform between the buy rate and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually implies that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread costs 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 small amount of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that happen 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 wish to sell it and that is how they make a little bit of cash on those spread costs it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit cash now the last task is called an
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overnight cost now this is truly crucial if you’re in fact utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy sell deal in the very same day okay there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which implies you’re really buying the precise possession rather than using take advantage of anyhow you will not get hit with these costs but these costs are if you’re using leverage 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 costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some additional charges obviously depending upon what you are investing in too this is on your own so keep that in mind but full charges are entirely within their aid info all right and we spoke about along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product 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 methods of actually utilizing these copy works they do not have any additional fees on top of the normal fees that
exist now what you need to bear in mind though is these possibly handled by other people totally or sometimes have created portfolios you’ve got a genuine person doing the management you need to ensure you pick the individual that’s right for you much like any type of work this is your monetary possessions so we absolutely need to make certain it’s the right individual for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways i believe 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 simulate as if you are using your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is an excellent alternative for you once again to evaluate the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe have fun with it clearly you may have missed out on gains and losses throughout that time naturally if you had invested your real cash it enables 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 actually how to copy individuals and copy portfolios now here’s something to bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i suggest 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 means am i okay with possibly losing a good quantity of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that equally indicates they’ll lose eventually in their journey clearly individuals do earn money also and i’ve got videos all about how you can ensure you are among individuals to really make money however in this circumstance make sure you research study your risk level would you be all right providing your cash to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that risky do not pick someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the 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 give you a great deal of choices and you can utilize the system to in fact look for someone that you expensive actually following so let’s see perhaps we want someone from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has actually fulfilled that requirements and it does provide you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other 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 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 little bit so that’s great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production business as that. How To Transfer Binance To Etoro.
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