We get this a lot on our site the answer to Etoro Wayne Ryan….Questions that i speak with new financiers what if you’re brand new to investing you just don’t want to choose what you in fact wish to invest and you want somebody to do it for you there’s just a number of ways that that can take place the first of all you can hire 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 buy mutual funds specific funds are developed once 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 also now if you’re brand new to an overall please remember this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume since 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 consider that option also so you actually get used to the structure of the website and after that when you’re ready to utilize your own money 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 real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row purchase these options since you believe is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing 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 private products specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering 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 understand prior to you actually start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs really crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission costs are free however there are a couple of other costs the very first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing however that is a fee to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two open market anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists 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 say give me us dollars instead you need to pay their fees now the fantastic thing about however when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their site will not certainly limit you in any way however we need to be aware of two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the financial investment platform between the buy price and the sale price okay 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 actually indicates that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing price of tesla is the value of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread out fees it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit cash now the last feat is called an
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over night fee now this is really essential if you’re actually utilizing cfds yourself too an over night cost is when you’re not doing that buy offer deal in the very same day okay there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which means you’re actually purchasing the exact property rather than utilizing leverage anyhow you won’t get hit with these costs but these fees are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you go into the aid section this isn’t the over night charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just uses as i stated to cfds there are some additional charges obviously depending on what you are purchasing also this is on your own so keep that in mind but complete fees are totally within their assistance information alright and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of in fact using these copy works they do not have any additional costs on top of the normal charges that
are there now what you need to keep in mind though is these possibly handled by other people entirely or in some cases have created portfolios you have actually got a genuine individual doing the management you have to ensure you select the individual that’s right for you just like any line of work this is your monetary properties so we absolutely need to make certain it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various choices for us first off 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 play with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash possibly this is a terrific option for you again to evaluate the theories fine you might want to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe play with it undoubtedly you may have lost out on gains and losses during that time naturally if you had invested your genuine money it allows 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 genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i imply 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 risk simply suggests am i okay with potentially losing an excellent amount of this financial investment or getting as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money however that similarly means they’ll lose at some point in their journey clearly people do make money as well and i have actually got videos everything about how you can ensure you are among the people to in fact earn money but in this situation make sure you research study your threat level would you be okay giving your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in totally if you’re someone who isn’t wanting to be that dangerous do not pick somebody who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold and even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really use this too truly easily over here you can copy individuals now it will give you a lot of options and you can utilize the system to in fact search for somebody that you fancy in fact following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has satisfied that requirements and it does offer you a threat element as well 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 individuals that have rather high returns
remember it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee 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 validate are you all right with this and off you go now another way to really deep dive if we click 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 bit so that’s excellent 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 in fact that i buy too which is great so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production business as that. Etoro Wayne Ryan.
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