We get this a lot on our site the answer to Reddit Easy Money Etoro….Concerns that i hear from new financiers what if you’re brand new to investing you just don’t want to choose what you really want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the first of all you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are created 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 quite sophisticated you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform do not just presume because i use 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 too so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row invest in these choices since you believe is the right ones for you which being said let’s dive straight in [Music] The 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 aspect that is most likely.
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famous for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies 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 fees involved actually vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 a few of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs specific commodities specific 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 sort of charges 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 prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with fees actually essential to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling okay so commission charges are totally free however there are a couple of other costs the very first one is withdrawal costs so you can clearly put cash 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 but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re offering 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 make certain that i’m just withdrawing when i absolutely require to now you may state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms certainly are complimentary 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 once every six months you know depends entirely how you’re investing however that is a charge to remember the second charge that i’ve discussed is that conversion charge now with you’re handling 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 or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists 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 instead you have to pay their fees now the excellent feature of though when you have actually converted your money you do not have 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 preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform between the buy rate and the sale price all right 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 means that when you wish to offer or purchase 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 fees is the distinction then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you say okay well why does that occur it simply 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 sell it and that is how they make a little bit of money on those spread out fees it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit money now the last task is called an
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overnight fee now this is truly important if you’re in fact utilizing cfds yourself as well an overnight cost is when you’re not doing that buy offer transaction 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 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 utilizing time one leverage which suggests you’re really purchasing the exact property rather than utilizing utilize anyhow you will not get hit with these charges but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you enter into the aid area this isn’t the overnight charges details 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 over night or you’re doing over weekends and that only uses as i stated to cfds there are some service charges of course depending upon what you are purchasing too this is on your own so keep that in mind however full costs are totally within their assistance info all right and we spoke about as well as complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of really using these copy operates they do not have any additional fees on top of the typical charges that
are there now what you need to bear in mind though is these potentially handled by other individuals completely or sometimes have developed portfolios you have actually got a genuine person doing the management you need to make sure you select the person that’s right for you similar to any line of work this is your monetary properties so we absolutely need to make sure it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual ways 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 require to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own cash but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a fantastic option for you again to test the theories fine you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe play with it clearly you might have lost out on gains and losses throughout that time of course if you had invested your genuine cash it allows you to construct confidence comprehend 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 actually how to copy people and copy portfolios now here’s something to remember prior to you choose somebody 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 certainly 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 all right with possibly losing a great quantity of this investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose eventually in their journey certainly people do make money too and i’ve got videos all about how you can make sure you’re one of the people to actually generate income but in this situation make certain you research your risk level would you be alright providing your money to another person which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t choose someone who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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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 same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy people now it will provide you a lot of choices and you can use the system to really search for someone that you expensive really following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually fulfilled that criteria and it does provide you a threat factor also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to confirm are you fine with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s rather 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 kind of into those blue box and the tech market she’s got some of mine actually that i buy too which is good so in fact for me knowing what i like to purchase 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 prefers she’s also got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Reddit Easy Money Etoro.
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