We get this a lot on our site and the answer to What Is The Best Alternative To Etoro….Questions that i speak with 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 someone to do it for you there’s only a number of manner ins which that can take place the first of all you can hire an investment portfolio manager they’ll normally charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific 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 as well now if you’re brand new to an overall please keep in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row buy these choices since you believe is the ideal 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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popular for it’s the alternative to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates 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 also cover is the costs included truly important you comprehend what are the costs of this now with any platform there will be some expense to clearly 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 a few of the zero cost sites then might not charge you for really buying and selling etfs or funds individual commodities private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 prior to you in fact start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs actually crucial to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling fine so commission costs are totally free nevertheless there are a couple of other costs the first one is withdrawal fees so you can certainly 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 but when you wish to withdraw your cash so you offer your shares you offer your products 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 knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they really giving 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 give me us dollars instead you have to pay their fees now the great feature of however 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 suggests the preliminary 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 charges so that’s really excellent utilizing that part of their website will not certainly limit you in any way however we have to be aware of 2 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 cost as i’m going to show you
on is basically the distinction that belongs to the investment platform in between the buy rate and the price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really indicates 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 current 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 find this all over this is another way that they make a percentage of benefit from you each 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 occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to offer it which is how they make a bit of money on those spread out costs it’s usually incredibly little 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 bit cash now the last feat is called an
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overnight cost now this is truly important if you’re really using cfds yourself as well an over night cost is when you’re not doing that buy sell transaction in the very same day okay there’s then an overnight cost 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 commodity and using time one leverage which suggests you’re in fact purchasing the specific possession instead of using take advantage of anyhow you won’t get hit with these costs 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 assistance section this isn’t the over night fees 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 and that only applies as i said to cfds there are some service charges of course depending upon what you are investing in too this is on your own so keep that in mind however full charges are totally within their aid information alright and we spoke about along with free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product 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 2 various methods of in fact using these copy works they do not have any extra charges on top of the regular charges that
exist now what you require to remember though is these potentially handled by other individuals totally or sometimes have actually developed portfolios you have actually got a real person doing the management you have to make sure you choose the person that’s right for you just like any line of work this is your monetary assets so we definitely require 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 number of various choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money perhaps this is a fantastic alternative for you once again to test the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it obviously you may have missed out on gains and losses throughout that time obviously if you had invested your genuine money it allows you to build confidence understand the platform so that’s one option 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 bear in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply suggests am i okay with potentially losing a good quantity of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the fact 75 people will lose cash however that equally implies they’ll lose at some time in their journey obviously people do make money also and i have actually got videos everything about how you can make sure you’re one of individuals to actually generate income however in this circumstance make certain you research study your threat level would you be okay offering your money to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong commodities
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like gold or even 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 use this too really easily over here you can copy people now it will give you a great deal of choices and you can utilize the system to in fact look for somebody that you expensive actually following so let’s see perhaps we desire somebody from unified kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everybody who has fulfilled that criteria and it does offer you a danger factor also 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 individuals that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you fine with this and off you go now another method to in fact 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 little bit so that’s great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine actually that i buy too which is excellent so really for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. What Is The Best Alternative To Etoro.
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