We get this a lot on our site the answer to Etoro Suck….Concerns that i speak with new investors what if you’re brand new to investing you simply don’t wish to choose what you really wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the to start with you can employ a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is naturally you can purchase 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 too now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you believe is the best ones for you and that being stated let’s dive directly 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 option to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means 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 costs included truly important you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know before you really start investing in copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges actually crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission charges are free however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you’re 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 however when you want to withdraw your cash so you sell your shares you sell your products 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 ensure that i’m only withdrawing when i definitely require to now you may say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’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 or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really giving you in regards to 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 say offer me us dollars rather you have to pay their fees now the fantastic aspect of however when you have actually converted your money you do not need 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 transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really good using that part of their website will not certainly restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform in between the buy cost and the sale price fine 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 implies that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you state alright well why does that occur it simply 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 sell it and that is how they make a little bit of money on those spread fees it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit cash now the last task is called an
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overnight charge now this is really essential if you’re really using cfds yourself too an overnight cost is when you’re not doing that buy offer transaction in the very same day all right there’s then an overnight cost charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which suggests you’re actually buying the specific possession rather than utilizing take advantage of anyway you won’t get hit with these costs but these charges are if you’re utilizing leverage 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 aid 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 over night or you’re doing over weekends which only applies as i stated to cfds there are some additional charges of course depending upon what you are investing in as well this is on your own so keep that in mind but full charges are completely within their assistance info fine and we discussed in addition to totally 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 whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact using these copy functions they don’t have any extra fees on top of the typical costs that
are there now what you need to keep in mind though is these possibly handled by other individuals completely or often have actually produced portfolios you’ve got a real person doing the management you have to ensure you select the person that’s right for you similar to any type of work this is your financial possessions so we definitely need to make sure it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are using your own money 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 perhaps this is a great option for you once again to check the theories okay you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it clearly you may have lost out on gains and losses during that time naturally if you had invested your real cash it permits you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back 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 before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i suggest by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just means am i all right with possibly losing an excellent amount of this investment or getting as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 people will lose money however that equally implies they’ll lose eventually in their journey undoubtedly people do earn money as well and i have actually got videos all about how you can make certain you are among individuals to actually earn money but in this situation make certain you research your threat level would you be okay offering your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s totally 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 might 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 actually use this too actually easily over here you can copy individuals now it will give you a great deal of choices and you can use the system to in fact look for someone that you elegant really following so let’s see possibly we want somebody from joined kingdom um who invests in 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 everybody who has fulfilled that criteria and it does provide you a risk factor also 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 individuals that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another way to really 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 good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is excellent so actually for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Etoro Suck.
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