We get this a lot on our site and the answer to Trading Central Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply do not 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 ways that that can take place the first of all you can work with an investment portfolio supervisor they’ll generally 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 obviously you can buy mutual funds specific funds are created 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 too now if you’re brand new to an overall please bear in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just presume because i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you actually get utilized 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 risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at risk 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 purchase these options due to the fact that you think is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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well-known for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 10 of their 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 costs involved really important you understand 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 purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 prior to you actually begin purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission fees are totally free however there are a number of other charges the first one is withdrawal fees so you can certainly put cash in now if you remain 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 later on however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say fine that’s rather expensive 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 simply one of those alternatives that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a fee to bear in mind the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that suits 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 great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 free trade anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and state offer me us dollars instead you have to pay their fees now the fantastic feature of though when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial 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 costs so that’s really great utilizing that part of their website will not certainly limit you in any way nevertheless we have to know two other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is basically the difference that is part of the financial investment platform in between the buy cost and the list price alright 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 in fact suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the existing rate of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread charges it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit cash now the last task is called an
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overnight charge now this is really important if you’re actually utilizing cfds yourself as well an over night fee is when you’re not doing that buy offer transaction in the very same day all right there’s then an overnight charge charged and even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which means you’re actually buying the specific possession rather than using take advantage of anyhow you will not get hit with these costs however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you enter into the help section this isn’t the overnight charges information 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 just uses as i said to cfds there are some additional charges of course depending on what you are buying also this is on your own so keep that in mind however full fees are entirely within their aid details alright and we spoke about along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of actually using these copy functions they do not have any extra fees on top of the regular costs that
are there now what you require to bear in mind though is these possibly handled by other people totally or often have produced portfolios you have actually got a real person doing the management you have to make certain you choose the individual that’s right for you much like any profession this is your monetary properties so we absolutely require to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various options 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 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 credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a fantastic choice for you again to test the theories all right you may want to buy tesla or apple or this etf why not use the virtual option as a method to sort of safe play with it undoubtedly you might have lost out on gains and losses during that time naturally if you had invested your genuine cash it allows you to construct confidence understand 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 really how to copy people and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i imply by that certainly 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 just suggests am i all right with potentially losing an excellent quantity of this investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash however that equally indicates they’ll lose at some time in their journey certainly individuals do generate income too and i have actually got videos all about how you can make sure you are among the people to in fact generate income but in this circumstance make sure you research your danger level would you be fine giving your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you may 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 really use this too actually easily over here you can copy people now it will provide you a lot of options and you can use the system to in fact search for somebody that you fancy really following so let’s see perhaps we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has fulfilled that criteria and it does offer you a risk factor as well 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
keep in mind it’s like anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you alright 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 in fact deep dive into what is she really 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 great to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is excellent so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great 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 have actually got you understand pharmaceutical and production companies as that. Trading Central Etoro.
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