We get this a lot on our site and the answer to How To Transfer From Etoro To Coinomi….Concerns that i hear from new investors what if you’re brand new to investing you just do not wish to decide what you really wish to invest and you want somebody to do it for you there’s only a couple of ways that that can take place the first of all you can hire a financial investment portfolio supervisor they’ll generally 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 naturally you can purchase mutual funds specific funds are developed again with an account supervisor 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 remember this platform is rather advanced 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 discovering please do study the platform don’t just presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has stated they’ve made earnings 14 months in a row buy these choices because you think 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 understanding what is copy trading what are copy portfolios it’s part of 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 unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really say i want to do precisely what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies 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 likewise cover is the charges involved really vital you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs individual products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission charges are free however there are a number of other charges the very first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those choices 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 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 bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they actually giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say provide me us dollars rather you have to pay their fees now the excellent thing about though when you’ve transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their website will not certainly restrict you in any way however we need to be aware of two other charges the first being what’s called spread fees all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the list price fine 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 worth 599 per share in tesla that really indicates that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that once again so the current price of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you state okay well why does that occur it simply does that is the nature of a great deal 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 little bit of cash on those spread out charges 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 again make a little bit money now the last feat is called an
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overnight cost now this is really crucial if you’re in fact using cfds yourself too an over night charge is when you’re not doing that buy offer deal in the exact same day alright there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising 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 utilize which implies you’re actually purchasing the precise asset rather than utilizing take advantage of anyhow you won’t get hit with these costs however these fees are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the assistance area this isn’t the over night costs info you can see exactly 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 only uses as i stated to cfds there are some added fees naturally depending on what you are investing in as well this is on your own so keep that in mind however complete fees are completely within their aid info alright and we spoke about along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually using these copy works they do not have any extra charges on top of the regular charges that
are there now what you require to keep in mind though is these possibly handled by other individuals entirely or in some cases have actually created portfolios you have actually got a real person doing the management you have to make certain you pick the individual that’s right for you similar to any line of work this is your monetary properties so we absolutely require 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 utilize this function we’ve got a couple of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is a great choice for you once again to evaluate the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it clearly you may have missed out on gains and losses throughout that time obviously if you had actually invested your genuine money it permits you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back 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 keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i imply by that undoubtedly 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 just indicates am i alright with possibly losing a good quantity of this investment or gaining as
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well now remember whatever is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money but that equally means they’ll lose eventually in their journey obviously people do earn money too and i’ve got videos everything about how you can ensure you are among individuals to really generate income but in this circumstance ensure you research your risk level would you be all right providing your cash to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that risky do not select someone who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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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 very same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy individuals now it will offer you a great deal of options and you can use the system to actually look for somebody that you elegant in fact following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has actually met that requirements and it does offer you a risk aspect 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 number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not indicate 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 simple as clicking the copy button and off you go and then you understand ask you to verify are you alright 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 really 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 excellent to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good 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 good spread in tech business that seems to be what she chooses she’s likewise got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. How To Transfer From Etoro To Coinomi.
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