We get this a lot on our site and the answer to Is Etoro Legitr….Concerns that i hear from new investors what if you’re brand new to investing you just don’t wish to decide what you really want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can take place the firstly you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds particular funds are produced 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 a total please keep in mind this platform is rather innovative you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding 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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well-known for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that specific portfolio of options and basically every time they make a trade they purchase they sell whatever they do your money will be mimicked 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 actually vital you understand what are the costs of this now with any platform there will be some expense 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 some of the no charge sites then may not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 prior to you actually begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly important to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk money.
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and it’s instantly 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 sell 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 make certain that i’m just withdrawing when i definitely need to now you might say all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those choices that they have a lot of platforms undoubtedly are complimentary 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 when every 6 months you understand depends entirely how you’re investing but that is a cost to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they actually providing 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 offer me us dollars rather you have to pay their costs now the fantastic aspect of however when you’ve transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates 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 costs so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we need to be aware of 2 other charges the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is basically the distinction that belongs to the financial investment platform 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 website today tesla’s dollar value 599 per share in tesla that really indicates that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the present price of tesla is the value of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit from you every time you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you state fine well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread charges it’s typically exceptionally 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 bit cash now the last task is called an
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overnight cost now this is truly important if you’re really utilizing cfds yourself also an over night fee is when you’re not doing that buy offer deal in the same day alright there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re actually buying the specific possession instead of utilizing leverage anyway you will not get hit with these charges but these fees are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you enter into the help area this isn’t the overnight costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i said to cfds there are some surcharges of course depending on what you are purchasing as well this is on your own so keep that in mind however full fees are entirely within their help details fine and we spoke about in addition to complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of actually utilizing these copy works they do not have any additional charges on top of the typical charges that
are there now what you require to bear in mind though is these potentially handled by other people entirely or sometimes have actually produced portfolios you’ve got a real individual doing the management you have to make sure you choose the individual that’s right for you much like any kind of work this is your financial assets so we definitely need to make certain 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 use this function we’ve got a couple of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash however actually buy 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 a great choice for you again to test the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had invested your genuine money it allows you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to return 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 somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger 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 run the risk of simply indicates am i fine with potentially losing a good quantity of this investment or acquiring as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose at some time in their journey certainly people do make money as well and i have actually got videos all about how you can ensure you are among individuals to actually make money however in this circumstance ensure you research study your risk level would you be all right offering your cash to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re somebody who isn’t wishing to be that dangerous don’t select someone who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too really quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to in fact search for someone that you fancy really following so let’s see maybe we desire someone from joined kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has met that criteria and it does provide you a risk factor too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make four 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 after that you know ask you to verify are you okay with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can actually 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 know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is good so actually for me understanding what i like to purchase my private 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 also got a little bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production business as that. Is Etoro Legitr.
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