We get this a lot on our site and the answer to Martin Lewis On Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply do not want to choose what you really wish to invest and you want someone to do it for you there’s just a number of ways that that can take place the firstly you can work with a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are created 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 as well now if you’re brand new to an overall please keep in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t 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 as well so you actually get used to the structure of the site 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 speaking about how to copy other people’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something since that person has stated 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 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 aspect that is probably.
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popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do exactly 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 cash will be simulated with it so that indicates if for example 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 likewise cover is the charges involved really critical you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then might not charge you for actually buying and selling funds or etfs individual commodities specific 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 charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly essential to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission costs are free however there are a number of other charges the very first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just 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 perhaps even once a year when every six months you know depends entirely how you’re investing but that is a cost to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing 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 standard they have i suppose stuck to whatever cost 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 fee exists what are they in fact 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 state provide me us dollars instead you need to pay their charges now the fantastic feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their website will not certainly limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy price and the list price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really suggests that when you wish to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the current rate of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find 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 clearly it’s more expensive to purchase than it is to offer 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 bit of money on those spread costs it’s typically extremely little 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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overnight cost now this is truly essential if you’re in fact utilizing cfds yourself as well an overnight charge is when you’re refraining from doing that buy offer deal in the same day alright there’s then an over night cost charged and even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which suggests you’re actually buying the exact asset instead of utilizing take advantage of anyhow you will not get hit with these charges however these charges are if you’re utilizing take advantage of 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 say if you enter into the assistance area this isn’t the overnight costs details 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 said to cfds there are some service charges of course depending upon what you are investing in too this is on your own so keep that in mind but complete charges are entirely within their aid info okay and we talked about along with free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of in fact utilizing these copy functions they do not have any additional fees on top of the regular charges that
exist now what you need to keep in mind though is these potentially handled by other individuals totally or in some cases have actually created portfolios you’ve got a genuine person doing the management you need to make certain you choose the individual that’s right for you much like any type of work this is your financial possessions so we absolutely require to make certain it’s the right individual for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different choices 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 genuine money or a virtual platform virtual methods i think 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 essentially have this virtual portfolio simulate as if you are utilizing your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a great choice for you once again to check the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it clearly you might have missed out on gains and losses during that time naturally if you had actually invested your genuine money it permits you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you pick 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 mean by that clearly 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 suggests am i all right with possibly losing an excellent quantity of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose money but that equally means they’ll lose eventually in their journey obviously individuals do generate income also and i have actually got videos everything about how you can ensure you are among the people to actually generate income however in this circumstance make sure you research study your threat level would you be fine giving your cash to somebody else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that risky do not pick someone who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may 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 individuals now it will offer you a lot of options and you can utilize the system to in fact look for somebody that you fancy really following so let’s see maybe we desire somebody from unified kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has met that requirements and it does provide you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as simple 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 really deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really 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 great to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is excellent so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production business as that. Martin Lewis On Etoro.
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