We get this a lot on our site and the answer to Nmr Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to choose what you really want to invest and you want someone to do it for you there’s just a couple of manner ins which that can happen the firstly you can employ a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 an overall 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 actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made profit 14 months in a row buy these options due to the fact that 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 understanding 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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famous for it’s the choice to see what other traders are doing extraordinary 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 money we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means 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 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 obviously these are real 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 cost sites then may not charge you for actually buying and selling etfs or funds specific commodities private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 understand prior to you in fact begin buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission fees are free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly 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 but when you want to withdraw your cash so you offer 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 five 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 might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms clearly are 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 once every 6 months you understand depends completely how you’re investing however that is a cost to keep in mind the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that suits 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 use anyone so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists 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 have to pay their costs now the great aspect of however when you have actually transformed your money 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 initial 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 extra fees so that’s really good using that part of their site will not definitely limit you in any way however we need to be aware of 2 other fees the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that is part of the investment platform in between the buy cost and the list 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 today tesla’s dollar value 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 show you that again so the present cost of tesla is the value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind clearly 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 just 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 offer it and that is how they make a little bit of money on those spread costs it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit cash now the last task is called an
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overnight cost now this is actually important if you’re really using cfds yourself too an overnight charge is when you’re refraining from doing that buy sell transaction in the same day alright there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which indicates you’re in fact buying the specific property rather than using leverage anyhow you won’t get hit with these fees but these costs are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s state if you enter into the help section 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 over night or you’re doing over weekends which only uses as i said to cfds there are some service charges obviously depending upon what you are investing in also this is on your own so keep that in mind however full costs are completely within their help details fine and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of really using these copy functions they don’t have any additional fees on top of the normal fees that
are there now what you require to bear in mind though is these potentially handled by other individuals completely or in some cases have produced portfolios you’ve got a real individual doing the management you have to make certain you select the person that’s right for you similar to any kind of work this is your financial possessions so we definitely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different alternatives for us firstly 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 believe you get yep a hundred thousand dollars to play 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 essentially have this virtual portfolio simulate as if you are utilizing your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash possibly 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 option as a way to kind of safe play with it undoubtedly you might have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply indicates am i fine with potentially losing an excellent amount of this investment or gaining as
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well now remember whatever is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally implies they’ll lose at some time in their journey certainly individuals do earn money also and i have actually got videos all about how you can make certain you’re one of individuals to actually make money but in this scenario make certain you research your risk level would you be all right offering your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that dangerous do not select someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can actually use this too really quickly over here you can copy people now it will offer you a great deal of options and you can use the system to really look for somebody that you expensive actually following so let’s see maybe we desire somebody from joined kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everybody who has met that criteria and it does offer you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
bear in mind it’s like 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 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 confirm 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 in fact investing in 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 certainly 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 in fact for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production business as that. Nmr Etoro.
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