We get htis a lot on our site the answer to Etoro Openbook Social Trading Platform….Concerns that i speak with new financiers what if you’re brand new to investing you merely don’t want to decide what you actually wish to invest and you want somebody to do it for you there’s only a number of ways that that can happen the firstly you can work with a financial investment portfolio manager they’ll normally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular funds are created 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 a total please remember this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform don’t just presume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need 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 due to the fact that you think is the right ones for you and that being stated let’s dive straight 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 most likely.
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well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 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 likewise cover is the costs included really important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 charge websites then may not charge you for in fact buying and selling etfs or funds specific products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with costs really crucial to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a number of other costs the very first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
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and it’s instantly 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 offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those options that they have a lot of platforms undoubtedly 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 once every six months you know depends totally how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow 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 cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually 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 state give me us dollars instead you need to pay their costs now the fantastic feature of though when you have actually converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 charges so that’s really good using that part of their site will not definitely restrict you in any way however we have to be aware of two other charges the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is generally the difference that is part of the financial investment platform between the buy price and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that actually implies that when you want to purchase or offer as you can see it’s not the price 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 costs is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you state 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 want to sell it which is how they make a bit of money on those spread out charges it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit money now the last task is called an
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overnight cost now this is truly crucial if you’re really using cfds yourself too an over night fee is when you’re refraining from doing that buy sell transaction in the exact same day all right there’s then an over night cost charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which suggests you’re really buying the specific property instead of utilizing take advantage of anyhow you will not get hit with these costs but these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s state if you go into the aid section this isn’t the over night costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which only applies as i stated to cfds there are some added fees naturally depending upon what you are investing in also this is on your own so keep that in mind however full charges are totally within their help information fine and we spoke about along with complimentary to deposit in but there’s a five 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 charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of actually using these copy functions they do not have any additional fees on top of the normal costs that
exist now what you require to bear in mind though is these possibly handled by other people totally or sometimes have actually produced portfolios you have actually got a real individual doing the management you have to make sure you select the individual that’s right for you much like any line of work this is your monetary assets so we absolutely need to make certain 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 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 real money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a fantastic choice for you again to check the theories fine you may want to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe play with it clearly you may have lost out on gains and losses during that time of course if you had invested your real cash it allows you to construct self-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 people and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure 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 state the longer you’re leaving your financial investments the riskier you can be run the risk of just suggests am i fine with potentially losing a good quantity of this investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money however that equally suggests they’ll lose at some time in their journey undoubtedly individuals do earn money as well and i’ve got videos everything about how you can make sure you are among individuals to really make money however in this scenario make certain you research your danger level would you be all right offering your money to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that risky don’t select someone 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 standard 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 say you can actually utilize this too truly quickly over here you can copy individuals now it will give you a lot of choices and you can use the system to really search for someone that you fancy in fact following so let’s see perhaps we want someone from joined kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has actually fulfilled that criteria and it does provide you a threat element too 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 rather high returns
bear in mind it’s like 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 might make 4 or minus 50 there’s no way to guarantee 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 confirm are you fine with this and off you go now another way to really deep dive if we click on this person for example 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 little bit so that’s great to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so in fact for me knowing what i like to purchase my private 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 also got a little bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Openbook Social Trading Platform.
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