We get this a lot on our site and the answer to Moneylion Vs Etoro….Concerns that i hear from new investors what if you’re brand new to investing you merely don’t want to choose what you in fact wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can happen the first off you can hire an investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 too now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which obviously 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 just presume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you actually get used to the structure of the website and then 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 risk this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row purchase these options because you believe is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding 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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famous for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 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 really crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for really 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 type of costs 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 prior to you actually begin 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 advanced investor so let’s begin with fees really crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission fees are free however there are a number of other fees the very first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you sell your shares you sell your products 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say alright that’s rather costly 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 clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re handling 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 great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps 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 anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact offering 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 costs now the terrific thing about though when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 truly great using that part of their website will not definitely restrict you in any way however we need to understand 2 other charges the very first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you
on is essentially the difference that belongs to the investment platform in between the buy rate and the sale price okay 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 really implies that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the current cost of tesla is the value of a share what’s called spread fees is the distinction then in fact to purchase 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 each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it which is how they make a little bit of cash on those spread out charges it’s typically extremely small it could be a matter of pens matter of cents in there however 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 fee now this is truly crucial if you’re actually utilizing cfds yourself as well an over night cost is when you’re not doing that buy sell transaction in the very same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re really buying the specific possession rather than using leverage anyway you won’t get hit with these charges however these costs are if you’re utilizing take advantage of 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 state if you enter into the assistance section this isn’t the over night fees info 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 and that just applies as i stated to cfds there are some service charges obviously depending upon what you are purchasing too this is on your own so keep that in mind but complete costs are totally within their aid info all right and we discussed in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product 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 2 different methods of in fact utilizing these copy operates they do not have any additional costs on top of the typical fees that
are there now what you require to bear in mind though is these possibly handled by other individuals completely or often have actually created portfolios you’ve got a real person doing the management you need to make certain you choose the person that’s right for you just like any line of work this is your financial assets so we absolutely require to make sure 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 have actually got a couple of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however 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 fantastic choice for you once again to evaluate the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to type of safe have fun with it certainly you may have lost out on gains and losses throughout that time of course if you had actually invested your real money it allows you to construct self-confidence understand the platform so that’s one alternative 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 keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i imply by that obviously 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 indicates am i all right with possibly losing a great quantity of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 people will lose cash however that equally means they’ll lose eventually in their journey obviously people do make money too and i have actually got videos everything about how you can ensure you’re one of the people to really earn money but in this situation ensure you research study your risk level would you be okay giving your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that risky don’t pick someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually utilize this too really quickly over here you can copy people now it will give you a lot of choices and you can utilize the system to actually search for someone that you expensive really following so let’s see possibly we want someone from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has fulfilled that criteria and it does give you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 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 then you understand ask you to validate are you fine with this and off you go now another method to really deep dive if we click on this person for instance 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 quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is great so really 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 appears to be what she chooses she’s also got a bit more um of the kind of main food business and you have actually got you know pharmaceutical and production companies as that. Moneylion Vs Etoro.
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