We get htis a lot on our site the answer to Grow Money Trading Etoro….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely do not want to choose what you actually wish to invest and you desire someone to do it for you there’s just a number of manner ins which that can occur the to start with you can hire an investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are developed 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 innovative you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform do not just presume 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 consider that choice too so you in fact get utilized to the structure of the site and then when you’re ready to use your own money 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 pick to in this specific video we’re discussing 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 actually stated they have actually made profit 14 months in a row purchase these options since you think is the ideal ones for you which being stated let’s dive straight 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 element that is most likely.
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famous for it’s the choice to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial 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 fees involved really vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost websites then may not charge you for really buying and selling etfs or funds specific commodities individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you in fact 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 costs truly important to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission fees are free nevertheless there are a number of other charges the first one is withdrawal charges so you can certainly put cash in now if you’re 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 in the future but when you wish to withdraw your money 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state fine 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 someplace and withdrawal charges are simply among those options that they have a great deal of platforms obviously are complimentary 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 when every 6 months you know depends completely how you’re investing however that is a charge to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that matches 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 great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there 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 say give me us dollars rather you need to pay their costs now the great thing about however when you have actually transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great using that part of their website will not certainly limit you in any way nevertheless we need to know 2 other costs the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is essentially the difference that belongs to the investment platform between the buy price and the list price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present price of tesla is the value of a share what’s called spread costs is the distinction then actually 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 benefit from you every time you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state fine 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 wish to offer it and that is how they make a little bit of money on those spread charges it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last task is called an
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over night charge now this is truly important if you’re actually using cfds yourself too an over night fee is when you’re refraining from doing that buy sell deal in the same day okay there’s then an overnight cost charged or even if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re really purchasing the specific possession instead of using utilize anyway you won’t get hit with these costs however these fees are if you’re using 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 say if you enter into the assistance area this isn’t the over night fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just uses as i said to cfds there are some service charges obviously depending upon what you are purchasing also this is on your own so keep that in mind but full charges are entirely within their aid info fine and we talked about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of in fact using these copy functions they don’t have any extra costs on top of the regular fees that
exist now what you require to bear in mind though is these possibly managed by other individuals totally or sometimes have created portfolios you’ve got a genuine person doing the management you need to ensure you choose the person that’s right for you just like any line of work this is your monetary possessions so we absolutely need to make certain it’s the right 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 various alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are using your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a great choice for you again to test the theories all right you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe have fun with it clearly you may have lost out on gains and losses during that time obviously if you had invested your real cash it enables you to build confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i mean by that undoubtedly 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 simply implies am i fine with possibly losing a good amount of this investment or gaining 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 fact 75 individuals will lose money however that similarly suggests they’ll lose at some point in their journey undoubtedly individuals do generate income as well and i’ve got videos all about how you can ensure you are among the people to really generate income however in this circumstance make sure you research study your threat level would you be fine offering your money to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that risky do not select somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more standard 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 state you can really use this too truly easily over here you can copy people now it will give you a lot of choices and you can use the system to actually search for someone that you expensive actually following so let’s see possibly we want someone from joined kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has fulfilled that criteria and it does give you a risk element too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people 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 indicate 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 simple 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 method to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually 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 great to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production business as that. Grow Money Trading Etoro.
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