We get this a lot on our site and the answer to Liam Davies Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you desire someone to do it for you there’s just a couple of ways that that can occur the to start with you can work with a financial investment portfolio manager they’ll typically charge a quite 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 buy mutual funds specific 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 also now if you’re brand new to an overall please remember this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option as well 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 naturally your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row buy these choices since you believe is the right ones for you and that being said let’s dive directly 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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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their 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 vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real 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 zero charge websites then may not charge you for really buying and selling funds or etfs private products specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges truly essential to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling okay so commission charges are complimentary nevertheless there are a number of other costs the first one is withdrawal costs 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 immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state fine 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 somewhere and withdrawal fees are simply among those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a charge to remember the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really providing 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 state give me us dollars rather you have to pay their charges now the fantastic aspect of though when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 extra costs so that’s really excellent utilizing that part of their website won’t definitely limit you in any way however we need to be aware of two other costs the first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is generally the distinction that becomes part of the investment platform in between the buy cost 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 right now tesla’s dollar worth 599 per share in tesla that actually means that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you state all right well why does that happen it just 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 money on those spread out fees it’s generally extremely 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 cash now the last feat is called an
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over night charge now this is actually crucial if you’re actually utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell transaction in the exact same day alright there’s then an overnight cost charged or even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which implies you’re actually purchasing the specific possession instead of using utilize anyhow you won’t get hit with these costs but these costs are if you’re utilizing leverage 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 enter into the assistance area this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only uses as i stated to cfds there are some surcharges obviously depending on what you are purchasing also this is on your own so keep that in mind however full charges are totally within their help information fine and we spoke about in addition to complimentary 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really using these copy operates they don’t have any extra fees on top of the normal costs that
exist now what you need to keep in mind though is these possibly handled by other people completely or sometimes have produced portfolios you’ve got a genuine person doing the management you need to ensure you choose the individual that’s right for you similar to any line of work this is your financial properties so we definitely need to make sure 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 different alternatives for us first of all 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 methods i believe 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 charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money possibly this is an excellent option for you once again to check the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had invested your genuine money it permits you to build confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually 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 make certain you understand what your risk profile is now what do i mean by that clearly 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 means am i alright with potentially losing an excellent amount of this financial investment or acquiring as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that equally suggests they’ll lose at some point in their journey certainly people do make money also and i’ve got videos all about how you can make sure you are among individuals to in fact make money but in this situation make sure you research your danger level would you be alright providing your money to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wanting to be that risky do not choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too really quickly over here you can copy individuals now it will offer you a great deal of choices and you can use the system to in fact look for someone that you expensive actually following so let’s see maybe we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has met that requirements and it does provide you a threat factor also 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
bear in mind it’s like anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could 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 confirm are you okay 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 actually buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i purchase too which is excellent so actually for me understanding what i like to invest in 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 also got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Liam Davies Etoro.
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