We get this a lot on our site and the answer to Lee Chief Risk Officer Etrade Jersey City….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to choose what you actually wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the firstly you can hire an investment portfolio manager they’ll typically charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 also now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row purchase these choices because you think is the right ones for you which being stated let’s dive directly in [Music] so the 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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well-known for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost sites then might not charge you for actually buying and selling etfs or funds specific commodities private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually essential to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling all right so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal costs so you can certainly put cash 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 in the future but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those choices that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and say provide me us dollars instead you have to pay their costs now the excellent feature of though when you have actually converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their website won’t definitely limit you in any way nevertheless we have to understand two other fees the very first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is generally the distinction that belongs to the investment platform in between the buy rate and the sale price fine 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 means that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread costs is the distinction then actually to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to offer 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 great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of money on those spread costs it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a bit money now the last task is called an
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over night charge now this is truly important if you’re actually utilizing cfds yourself too an overnight cost is when you’re not doing that buy offer transaction in the same day alright there’s then an overnight charge charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re in fact buying the precise property rather than utilizing leverage anyway you will not get hit with these costs but these fees are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you enter into the help area this isn’t the overnight charges information you can see precisely 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 just uses as i said to cfds there are some added fees obviously depending upon what you are purchasing as well this is on your own so keep that in mind but full fees are totally within their help information all right and we talked about as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of really using these copy operates they don’t have any extra fees on top of the normal charges that
are there now what you need to bear in mind though is these potentially managed by other individuals completely or in some cases have actually developed portfolios you’ve got a genuine individual doing the management you need to ensure you select the individual that’s right for you just like any kind of work this is your financial properties so we absolutely need to make certain it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash 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 won’t require to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are using your own cash but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a great choice for you once again to check the theories all right you may want to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had actually invested your real money it allows you to develop confidence understand 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose 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 mean by that certainly 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 indicates am i all right with possibly losing a great quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally suggests they’ll lose eventually in their journey certainly people do make money too and i have actually got videos all about how you can ensure you are among individuals to in fact generate income but in this scenario ensure you research study your threat level would you be fine offering your money to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold or perhaps 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 say you can really use this too actually quickly over here you can copy people now it will give you a lot of options and you can utilize the system to in fact search for someone that you expensive in fact following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has satisfied that requirements and it does offer you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have quite high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not imply 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 basic as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually 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 sort of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is good so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Lee Chief Risk Officer Etrade Jersey City.
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