We get this a lot on our site and the answer to Is Etoro A Good Trading Platform….Questions that i hear from brand-new financiers what if you’re brand new to investing you just do not want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a number of manner ins which that can occur the firstly you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular funds are created once 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 as well now if you’re brand new to a total please remember this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing 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 undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row invest in these options because you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the 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 aspect that is most likely.
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famous for it’s the option to see what other traders are doing amazing we do not generally 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 cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly 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 absolutely no fee sites then might not charge you for actually buying and selling funds or etfs private commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with charges truly crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money 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 on however when you want to withdraw your cash so you sell your shares you offer your products 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state all right that’s quite pricey 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 simply among those alternatives that they have a great deal of platforms certainly are complimentary 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 when every 6 months you understand depends completely how you’re investing but that is a fee to remember the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they actually giving you in regards to 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 offer me us dollars instead you need to pay their costs now the terrific thing about however when you have actually 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 means the initial day that you buy 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 excellent utilizing that part of their website won’t certainly restrict you in any way however we need to know 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform between the buy cost and the sale price okay 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 worth 599 per share in tesla that in fact implies that when you wish to offer or purchase 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 charges is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you state all right well why does that happen it simply does that is the nature of a great deal 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 money on those spread out fees it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last feat is called an
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over night fee now this is truly crucial if you’re actually utilizing cfds yourself also an overnight fee is when you’re not doing that buy sell deal in the same day fine there’s then an overnight fee charged or perhaps 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 in fact buying out the etf the stock the product and utilizing time one utilize which indicates you’re actually purchasing the specific property rather than utilizing take advantage of anyway you won’t get hit with these fees but these charges are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you enter into the assistance area this isn’t the overnight charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some added fees of course depending upon what you are purchasing also this is on your own so keep that in mind however full costs are totally within their help info fine and we talked about as well as free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of in fact utilizing these copy functions they don’t have any extra costs on top of the normal fees that
are there now what you require to bear in mind though is these possibly managed by other individuals totally or often have actually produced portfolios you have actually got a genuine person doing the management you need to make sure you choose the individual that’s right for you similar to any kind of work this is your financial assets so we definitely require to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of various options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can basically 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 using your genuine cash maybe this is a great alternative for you once again to check the theories alright you might want to buy tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it clearly you may have missed out on gains and losses throughout that time naturally if you had actually invested your genuine cash it enables you to construct self-confidence comprehend 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 really how to copy people and copy portfolios now here’s something to keep in mind prior to you pick 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 indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just implies am i okay with potentially losing an excellent quantity of this 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 fact 75 people will lose cash but that equally suggests they’ll lose at some time in their journey obviously people do generate income as well and i have actually got videos everything about how you can make sure you’re one of the people to in fact make money however in this scenario make sure you research study your risk level would you be all right providing your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous don’t select someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or even oil plus more conventional 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 state you can in fact use this too really quickly over here you can copy people now it will provide you a great deal of options and you can use the system to in fact look for somebody that you expensive really following so let’s see perhaps we want someone from unified kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has actually met that requirements and it does offer you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to guarantee 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 okay with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can really 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 bit so that’s good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is great so really for me understanding what i like to purchase 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 also got a bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. Is Etoro A Good Trading Platform.
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