We get htis a lot on our site the answer to Is Etoro Actually Good….Concerns that i hear from new financiers what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you desire someone to do it for you there’s just a number of ways that that can take place the first off you can hire an investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of 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 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 keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you in fact get used to the structure of the site 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 danger this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the right 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 element that is most likely.
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famous for it’s the option to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say 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 imitated with it so that suggests if for instance 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 costs involved truly important you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real 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 fee websites then might 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 perhaps it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees actually crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission costs are totally free however there are a number of other charges the very first one is withdrawal charges 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 later on but when you want to withdraw your cash so you sell your shares you offer 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state fine that’s rather pricey 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 simply among those choices 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 mostly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a cost to bear in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they really providing 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 terrific thing about however when you’ve transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their website will not certainly limit you in any way however we have to be aware of two other costs the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is basically the distinction that becomes part of the financial investment platform between the buy cost and the 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 actually implies that when you want to purchase 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 existing rate of tesla is the value of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread out costs it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last accomplishment is called an
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over night fee now this is actually crucial if you’re in fact using cfds yourself as well an overnight charge is when you’re refraining from doing that buy offer transaction in the exact same day fine there’s then an overnight cost charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re in fact buying the exact asset instead of using take advantage of anyway you will not get hit with these costs but these charges are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you enter into the help area this isn’t the over night charges details you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that just uses as i said to cfds there are some added fees obviously depending on what you are investing in as well this is on your own so keep that in mind however complete costs are completely within their aid information alright and we spoke about along with free to deposit in however 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’ve stated copy trading and copy portfolios are 2 various ways of in fact using these copy works they don’t have any extra costs on top of the regular charges that
exist now what you require to bear in mind though is these potentially handled by other people entirely or in some cases have actually created portfolios you have actually got a genuine individual doing the management you have to make sure you choose the person that’s right for you similar to any profession this is your monetary properties so we definitely need to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do want 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 choice to invest real money or a virtual platform virtual methods 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 need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a great choice for you again to check the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it obviously you might have missed out on gains and losses during that time obviously if you had invested your real money it allows you to build 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i imply 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 risk just suggests am i okay with potentially losing an excellent amount of this investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose money but that equally suggests they’ll lose eventually in their journey certainly people do earn money too and i have actually got videos everything about how you can make certain you’re one of individuals to really make money however in this circumstance make certain you research your risk level would you be fine offering your cash to someone else 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 wanting to be that dangerous do not select someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might 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 really utilize this too really easily over here you can copy people now it will provide you a lot of options and you can utilize the system to really look for somebody that you expensive in fact following so let’s see perhaps we want someone from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has actually satisfied that criteria and it does provide you a threat 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 number of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 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 confirm are you all right with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can really 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 great to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i buy too which is great so actually for me knowing 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 kind of main food companies and you’ve got you understand pharmaceutical and production companies as that. Is Etoro Actually Good.
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