We get htis a lot on our site the answer to Are There Any Trading Platforms Like Etoro….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to choose what you really wish to invest and you desire somebody to do it for you there’s just a couple of ways that that can occur the to start with you can employ a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 a total please remember this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform do not just assume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you really get utilized to the structure of the website and then 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 real companies if you select to in this particular video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row invest in these choices since you believe is the ideal ones for you which being said 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’s part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing amazing 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 means with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for instance 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 fees included truly important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real business 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 charge websites then might not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
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there’ll be costs on other parts possibly 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 costs with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission costs are complimentary however there are a number of other fees the very first one is withdrawal fees so you can clearly 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 but when you wish to withdraw your money 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 only withdrawing when i definitely require to now you might state fine 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 fees are just among those alternatives that they have a great deal of platforms certainly are free to do such things has this five 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 entirely how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there 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 charges now the fantastic thing about however when you’ve converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent using that part of their website will not definitely restrict you in any way however we need to understand 2 other fees the first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is essentially the difference that becomes part of the investment platform in between the buy rate and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact means that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the existing rate of tesla is the worth of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread out fees it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight cost now this is truly crucial if you’re really using cfds yourself as well an overnight fee is when you’re not doing that buy sell deal in the same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re in fact buying the precise possession rather than using leverage anyway you won’t get hit with these charges but these charges are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you enter into the assistance area this isn’t the overnight costs info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some surcharges naturally depending on what you are investing in as well this is on your own so keep that in mind however complete fees are completely within their aid info all right and we discussed as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything 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 different ways of really using these copy works they don’t have any extra charges on top of the normal fees that
are there now what you need to keep in mind though is these possibly handled by other individuals entirely or sometimes have developed portfolios you have actually got a real individual doing the management you have to make certain you choose the person that’s right for you similar to any kind of work this is your monetary possessions so we absolutely need to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different options for us first of all 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 think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is an excellent option for you again to check the theories all right you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe play with it obviously you may have lost out on gains and losses during that time obviously if you had invested your real cash it permits you to build confidence understand the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually 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 sure you comprehend what your threat profile is now what do i indicate by that obviously 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 just suggests am i alright with potentially losing a great amount of this financial investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash but that equally indicates they’ll lose at some point in their journey undoubtedly people do earn money also and i’ve got videos everything about how you can ensure you are among the people to in fact make money however in this situation make sure you research study your threat level would you be all right providing your money to another person which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact utilize this too actually easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to really look for someone that you elegant in fact following so let’s see maybe we want someone from united kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually fulfilled that requirements and it does offer you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate 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 easy as clicking the copy button and off you go and after that you know ask you to validate are you okay with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is great so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production business as that. Are There Any Trading Platforms Like Etoro.
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