We get htis a lot on our site the answer to Etoro Copy Trader Open….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply do not wish to decide what you in fact wish to invest and you desire someone to do it for you there’s just a couple of ways that that can take place the to start with you can hire an investment portfolio manager they’ll typically 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 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 as well now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which naturally 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 more about please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you really get utilized to the structure of the website 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 danger this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’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 since that individual has stated they’ve made revenue 14 months in a row purchase these options since you think is the right ones for you which being stated let’s dive straight in [Music] 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 element that is probably.
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popular for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved actually crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for actually buying and selling etfs or funds specific commodities private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs actually important to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling okay so commission fees are free however there are a couple of other fees the first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
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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 want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends entirely how you’re investing however that is a cost to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 provide me us dollars rather you have to pay their fees now the excellent thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site will not definitely restrict you in any way nevertheless we need to know 2 other charges the very first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the financial investment platform in between the buy cost 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 website right now tesla’s dollar worth 599 per share in tesla that really suggests that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing cost of tesla is the value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to offer it and that is how they make a bit of cash on those spread fees it’s usually extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last feat is called an
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overnight cost now this is actually essential if you’re actually using cfds yourself too an over night fee is when you’re refraining from doing that buy sell deal in the very same day alright there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which implies you’re really purchasing the specific possession rather than using utilize anyway you won’t get hit with these costs however these costs are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you enter into the assistance section this isn’t the overnight fees information 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 just applies as i stated to cfds there are some surcharges obviously depending on what you are investing in as well this is on your own so keep that in mind but complete fees are completely within their help details fine and we discussed 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 normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of actually using these copy operates 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 potentially handled by other people entirely or sometimes have produced portfolios you’ve got a genuine individual doing the management you have to make certain you choose the individual that’s right for you similar to any profession this is your financial assets so we absolutely need to make sure it’s the ideal individual 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 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 choice to invest genuine money or a virtual platform virtual methods 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 basically have this virtual portfolio mimic as if you are using your own cash however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is an excellent alternative for you once again to check the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe have fun with it certainly you might have lost out on gains and losses during that time obviously if you had actually invested your genuine cash it enables 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 actually how to copy individuals and copy portfolios now here’s something to keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i indicate by that undoubtedly 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 indicates am i alright with possibly losing a good amount of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally means they’ll lose at some point in their journey clearly individuals do make money as well and i have actually got videos all about how you can make certain you are among the people to really generate income however in this situation make certain you research study your threat level would you be alright giving your cash to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky do not select someone who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or even oil plus more standard 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 say you can actually utilize this too truly quickly over here you can copy people now it will offer you a great deal of options and you can utilize the system to in fact search for somebody that you expensive in fact following so let’s see perhaps we want someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually satisfied that requirements and it does provide 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 number of people that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make 4 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 validate are you fine with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact 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 know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in 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 appears to be what she chooses she’s likewise got a bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production business as that. Etoro Copy Trader Open.
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