We get this a lot on our site and the answer to Solium Shareworks To Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you just don’t wish to decide what you really want to invest and you want someone to do it for you there’s just a couple of ways that that can occur the to start with you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds specific funds are developed 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 remember this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row purchase these choices due to the fact that you believe 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 element that is most likely.
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famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests 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 fees included truly vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 fees 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 lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees truly essential to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling fine so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal fees 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 automatically 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 offer 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 understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms clearly 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 as soon as every six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase 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 buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really 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 say give me us dollars instead you have to pay their fees now the terrific thing about however when you have actually converted 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 suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy cost and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact implies that when you want to sell 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 rate of tesla is the value 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 manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state alright 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 which is how they make a bit of cash on those spread fees 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 again make a bit cash now the last accomplishment is called an
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overnight cost now this is really essential if you’re in fact utilizing cfds yourself as well an over night charge is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an overnight cost charged and even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which indicates you’re really buying the precise asset rather than utilizing take advantage of anyhow you will not get hit with these charges however these fees are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you go into the help area this isn’t the over night charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some additional charges of course depending upon what you are buying also this is on your own so keep that in mind but full fees are totally within their assistance info fine and we discussed along with 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 different methods of actually using these copy operates they don’t have any additional charges on top of the regular fees that
are there now what you require to bear in mind though is these possibly handled by other people completely or often have developed portfolios you have actually got a real individual doing the management you need to ensure you select the individual that’s right for you similar to any type of work this is your monetary properties so we absolutely need to make sure it’s the best person 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 various choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is a great alternative for you once again to test the theories alright you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe play with it clearly you may have lost out on gains and losses throughout that time obviously if you had actually invested your genuine cash it permits 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 really how to copy people and copy portfolios now here’s something to remember before you choose someone 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 indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i fine with possibly losing an excellent quantity of this investment or gaining as
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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose cash however that equally implies they’ll lose eventually in their journey clearly individuals do earn money also and i have actually got videos everything about how you can make sure you are among individuals to in fact earn money however in this circumstance make sure you research study your risk level would you be alright providing your money to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous do not pick someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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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 state you can really utilize this too really quickly over here you can copy people now it will give you a great deal of choices and you can use the system to really search for someone that you elegant really following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has fulfilled that requirements and it does give you a danger element 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 individuals that have quite high returns
keep in mind it resembles 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 easy as clicking the copy button and off you go and then you know ask you to validate are you all right with this and off you go now another way 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 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 bit so that’s good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is good so actually for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production companies as that. Solium Shareworks To Etoro.
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