We get htis a lot on our site the answer to Etoro In New York….Questions that i hear from new investors what if you’re brand new to investing you simply do not want to choose what you actually wish to invest and you want somebody to do it for you there’s just a couple of ways that that can take place the firstly you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 also now if you’re brand new to an overall please remember 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 do not simply assume due to the fact that 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 option as well so you actually get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row invest in these options because you believe is the ideal ones for you which being stated let’s dive directly 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 aspect that is probably.
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famous for it’s the option to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be imitated 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 cash in so we’re going to likewise cover is the fees included really 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 included 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 charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission charges are free however there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling 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 just withdrawing when i absolutely need to now you might say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a fee to bear in mind the second charge 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 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 buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually giving 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 need to pay their fees now the excellent feature of however when you have actually transformed your money you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert 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 great utilizing that part of their website won’t definitely restrict you in any way however we have to understand two other fees the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you
on is basically the distinction that is part of the investment platform in between the buy cost and the list price okay 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 in fact suggests that when you wish to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present rate of tesla is the worth of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you say all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread charges it’s usually extremely 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 bit cash now the last feat is called an
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overnight cost now this is truly essential if you’re actually utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an over night charge charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which implies you’re actually buying the specific possession instead of using leverage anyhow you will not get hit with these charges however these charges are if you’re utilizing take advantage of 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 go into the assistance section this isn’t the overnight costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some service charges obviously depending on what you are buying also this is on your own so keep that in mind however full fees are entirely within their help details alright and we discussed in addition to free to deposit in but there’s a five dollar charge if you wish 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 have actually stated copy trading and copy portfolios are two various methods of in fact utilizing these copy operates they don’t have any additional charges on top of the regular costs that
are there now what you require to remember though is these possibly managed by other people completely or sometimes have actually developed portfolios you’ve got a real individual doing the management you have to ensure you select the individual that’s right for you much like any kind of work this is your financial possessions so we definitely 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 use this function we have actually got a couple of different alternatives 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 money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are using your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a fantastic option for you again to check the theories all right you might wish to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it obviously you might have missed out on gains and losses throughout that time naturally if you had actually invested your real cash it permits you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my real 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 before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i all right with potentially losing a good quantity of this investment or gaining as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money 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 earn money also and i’ve got videos everything about how you can make sure you’re one of individuals to in fact make money however in this situation make sure you research your danger level would you be alright giving your cash to another person which is effectively what you’re doing and trusting them ensure you understand what they’re buying totally if you’re somebody who isn’t wishing to be that risky don’t pick someone who’s entirely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold or perhaps 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 in fact utilize this too really quickly over here you can copy people now it will provide you a lot of choices and you can use the system to actually look for someone that you elegant really following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has fulfilled that criteria and it does provide you a danger aspect too 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 people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other 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 instance ruby mza as an example you can actually 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 excellent to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is excellent so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s also got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production companies as that. Etoro In New York.
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