We get this a lot on our site and the answer to Wall Of Coins Vs Etoro….Concerns that i speak with new financiers what if you’re brand new to investing you just do not wish to choose what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the to start with you can work with a financial investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are created 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 remember this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get utilized 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 obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they’ve made revenue 14 months in a row buy these options 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
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popular for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for instance 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 truly critical you understand what are the expenses of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee websites then might not charge you for really buying and selling funds or etfs specific commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 before you actually begin purchasing copy trading or copy portfolios and lastly some best recommendations 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 crucial to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission costs are free however there are a number of other fees the very first one is withdrawal costs so you can certainly put money in now if you’re 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 however when you wish to withdraw your cash so you offer your shares you offer 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd fee that i’ve touched upon 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 matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really providing you in regards to 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 provide me us dollars instead you need to pay their charges now the terrific thing about however when you’ve converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means 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 actually excellent using that part of their website will not definitely limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform between the buy price and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually means that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present rate of tesla is the worth of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread costs it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit cash now the last feat is called an
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overnight cost now this is actually important if you’re in fact utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer deal in the same day alright there’s then an over night charge charged and even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re in fact buying the specific possession rather than using take advantage of anyway you will not get hit with these costs however these charges are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s state if you enter into the help area this isn’t the overnight costs info you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some additional charges obviously depending upon what you are buying also this is on your own so keep that in mind however complete costs are entirely within their help information okay and we discussed along with complimentary to deposit in however 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 fee now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of in fact utilizing these copy operates they do not have any additional fees on top of the normal charges that
are there now what you need to remember though is these potentially managed by other individuals entirely or in some cases have produced portfolios you’ve got a real individual doing the management you need to make certain you select the person that’s right for you similar to any line of work this is your financial properties so we definitely need to make sure it’s the right person 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 choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is an excellent option for you once again to check the theories fine you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it obviously you may have lost out on gains and losses throughout that time of course if you had actually invested your genuine cash it permits you to build confidence understand the platform so that’s one choice 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 individuals and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i suggest by that obviously 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 just implies am i fine with possibly losing an excellent quantity of this financial investment or gaining as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 people will lose money but that similarly implies they’ll lose eventually in their journey obviously people do earn money as well and i’ve got videos everything about how you can make sure you are among the people to actually earn money however in this situation make sure you research your danger level would you be fine offering your cash to another person which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t select somebody who’s completely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact use this too really quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to really look for someone that you elegant actually following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has satisfied that criteria and it does give you a risk aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure 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 verify are you alright with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really investing in so let’s go 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 kind of into those blue box and the tech market she’s got some of mine actually that i invest in too which is excellent so really for me knowing 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 type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Wall Of Coins Vs Etoro.
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