We get htis a lot on our site the answer to Etoro Trading Challenge….Concerns that i hear from brand-new investors what if you’re brand new to investing you just don’t want to choose what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the to start with you can hire a financial investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 a total please remember this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume because 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 alternative as well so you in fact get utilized to the structure of the website 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 threat this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made profit 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that being said 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 aspect that is probably.
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well-known for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their financial investment portfolio remains 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 truly important you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for really buying and selling etfs or funds individual commodities individual 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 fees 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 before you actually start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with fees actually essential to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling all right so commission charges are free however there are a couple of other charges the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those choices that they have a lot of platforms obviously are 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 6 months you know depends completely how you’re investing but that is a cost to keep in mind the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow 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 anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use 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 rather you have to pay their fees now the excellent thing about however when you have actually transformed your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good using that part of their site won’t definitely limit you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the difference that is part of the financial investment platform in between the buy rate 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 site right now tesla’s dollar worth 599 per share in tesla that actually indicates that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing rate of tesla is the worth of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit 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 all right well why does that happen 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 bit of cash on those spread out costs it’s generally 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 little bit money now the last task is called an
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overnight fee now this is actually essential if you’re really utilizing cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell deal in the same day fine there’s then an overnight charge charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re really buying the specific possession rather than utilizing utilize anyway you won’t get hit with these charges however these charges are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you enter into the aid section this isn’t the overnight charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges obviously depending on what you are investing in also this is on your own so keep that in mind but complete fees are entirely within their help info fine and we talked about along with complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of really using these copy operates they do not have any extra costs on top of the typical costs that
are there now what you need to bear in mind though is these possibly handled by other people totally or sometimes have produced portfolios you’ve got a real person doing the management you need to ensure you select the individual that’s right for you similar to any profession this is your financial assets so we absolutely require 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 want to utilize this function we have actually got a number of various options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means i believe 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 information 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 genuine cash possibly this is an excellent option for you once again to check the theories all right you might want to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe have fun with it certainly you may have missed out on gains and losses during that time obviously if you had actually invested your genuine money it permits you to construct confidence comprehend the platform so that’s one alternative 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 choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i suggest by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply implies am i fine with potentially losing a good amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly implies they’ll lose eventually in their journey clearly individuals do make money as well and i have actually got videos all about how you can make sure you are among individuals to in fact make money however in this scenario ensure you research study your danger level would you be fine offering your money to another person which is effectively what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 use this too actually easily over here you can copy people now it will offer you a great deal of choices and you can utilize the system to in fact search for someone that you expensive actually following so let’s see possibly we want someone from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually met that criteria and it does offer you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they could make 4 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 know ask you to validate are you okay with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is great so really 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 companies that appears to be what she prefers she’s likewise got a bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Trading Challenge.
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