We get this a lot on our site the answer to Etoro Jay Smith….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t wish to choose what you in fact want to invest and you desire someone to do it for you there’s just a couple of manner ins which that can happen the firstly you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 bear in mind this platform is rather advanced 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 finding out about please do study the platform do not just assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you actually get used 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 risk this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at risk and we need 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 purchase these options due to the fact that you think is the right ones for you and that being said let’s dive directly in [Music] so the important 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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well-known for it’s the alternative 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 indicates with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies 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 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 fee sites then might not charge you for really buying and selling funds or etfs private products private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges actually important to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling okay so commission charges are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course 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 rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits 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 great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really offering 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 say give me us dollars instead you need to pay their costs now the excellent aspect of however when you have actually converted your cash 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 means the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their website won’t definitely restrict you in any way nevertheless we have to understand two other fees the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy price and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually implies that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll discover this everywhere this is another way that 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 expensive to purchase than it is to offer so they’re going to offer 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 distinction between if you’re buying it then you want to offer it and that is how they make a bit of cash on those spread fees it’s typically exceptionally little 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 money now the last feat is called an
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overnight cost now this is truly crucial if you’re in fact utilizing cfds yourself also an over night cost is when you’re refraining from doing that buy sell deal in the exact same day fine there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising 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 indicates you’re really purchasing the exact asset rather than using utilize anyhow you won’t get hit with these costs but these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you enter into the assistance area this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some service charges obviously depending upon what you are investing in as well this is on your own so keep that in mind however full charges are completely within their aid information okay and we spoke about as well as free to deposit in but 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 five dollar withdrawal charge now another thing to call it as i’ve said 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 regular fees that
exist now what you need to keep in mind though is these potentially handled by other individuals completely or often have developed portfolios you have actually got a real individual doing the management you need to make certain you choose the person that’s right for you similar to any line of work this is your financial properties so we definitely need to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different 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 cash 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 will not need to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money however in fact purchase 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 a great choice for you again to evaluate the theories alright you may wish to buy tesla or apple or this etf why not utilize the virtual option as a way to sort 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 develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember prior to you pick someone 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 indicate by that certainly 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 risk just means am i okay with possibly losing a great quantity of this financial investment or gaining as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 people will lose money however that similarly implies they’ll lose at some point in their journey clearly people do earn money too and i’ve got videos all about how you can make sure you are among the people to actually generate income but in this circumstance make certain you research study your risk level would you be fine offering your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 use this too truly quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to really look for somebody that you elegant actually following so let’s see possibly we desire somebody from joined kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everybody who has actually fulfilled that criteria and it does provide you a risk aspect too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she really investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely 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 great so actually for me knowing what i like to invest in 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 prefers she’s likewise got a little bit more um of the kind of primary food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Jay Smith.
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