We get this a lot on our site and the answer to Is Etoro The Best….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can occur the to start with you can employ an investment portfolio supervisor they’ll generally 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 naturally you can purchase mutual funds specific 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 a total please remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 option to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included actually crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then might not charge you for actually buying and selling funds or etfs specific products private stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 begin investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees really essential to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling okay so commission costs are totally free however there are a couple of other costs the very first one is withdrawal charges so you can clearly put cash in now if you remain 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 however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those options 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 mostly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’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 buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say give me us dollars instead you need to pay their charges now the excellent thing about though when you’ve transformed your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their website won’t certainly limit you in any way however we need to know two other costs the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform 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 site right now tesla’s dollar worth 599 per share in tesla that actually means that when you want to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present rate of tesla is the worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind undoubtedly 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 fine well why does that happen 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 sell it and that is how they make a little bit of money on those spread fees it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit money now the last accomplishment is called an
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over night charge now this is truly important if you’re actually utilizing cfds yourself too an over night cost is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an over night cost 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 in fact buying out the etf the stock the commodity and using time one take advantage of which indicates you’re really buying the specific property rather than utilizing take advantage of anyhow you will not get hit with these charges however these fees are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s state if you go into the help section this isn’t the over night costs information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some surcharges 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 assistance information fine and we discussed in addition to free to deposit in however there’s a 5 dollar charge if you want 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 have actually said copy trading and copy portfolios are 2 various methods of actually utilizing these copy operates they don’t have any additional charges on top of the regular fees that
are there now what you need to keep in mind though is these potentially managed by other people entirely or often have actually developed portfolios you’ve got a real individual doing the management you have to make sure you choose the person that’s right for you similar to any type of work this is your financial assets so we absolutely require to make sure it’s the ideal 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 number of various choices 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 cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a fantastic option for you again to test the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe play with it certainly you may have lost out on gains and losses during that time naturally if you had invested your genuine money it allows you to develop 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 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 mean 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 risk just implies am i okay with possibly losing a great amount of this financial investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money however that similarly suggests they’ll lose eventually in their journey undoubtedly people do make money too and i’ve got videos all about how you can ensure you’re one of individuals to in fact make money however in this scenario make sure you research your risk level would you be all right offering your money to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re buying fully if you’re someone who isn’t wanting to be that risky do not select someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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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 state you can really utilize this too actually quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to actually search for someone that you fancy really following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has fulfilled that requirements and it does provide you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of individuals that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not mean someone 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 understand ask you to verify are you okay with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really purchasing 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 excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is excellent so really for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Is Etoro The Best.
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