We get htis a lot on our site the answer to Social Trading Etoro….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s just a number of ways that that can occur the to start with you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 as well now if you’re brand new to an overall please remember this platform is quite innovative you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform do not just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you in fact get used to the structure of the site 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 danger this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these choices because you think is the right ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 no fee websites then might not charge you for actually buying and selling funds or etfs specific products 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 type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees actually essential to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission costs are free however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those options that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever charge 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 fee is there what are they really offering 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 state provide me us dollars rather you need to pay their charges now the terrific feature of however when you have actually converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy 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 really excellent utilizing that part of their site won’t certainly limit you in any way however we need to be aware of two other fees the first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that in fact means that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost 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 find this all over this is another manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread costs it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a bit cash now the last task is called an
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overnight charge now this is truly essential if you’re really utilizing cfds yourself too an overnight charge is when you’re not doing that buy sell transaction in the exact same day all right there’s then an overnight cost charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one leverage which suggests you’re actually buying the exact possession instead of using utilize anyhow you won’t get hit with these charges however these charges are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you enter into the aid area this isn’t the overnight charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some service charges naturally depending upon what you are buying as well this is on your own so keep that in mind but full fees are completely within their assistance details okay and we spoke about in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of in fact utilizing these copy works they don’t have any additional fees on top of the regular charges that
are there now what you need to keep in mind though is these possibly handled by other individuals completely or sometimes have actually developed portfolios you’ve got a genuine individual doing the management you have to make certain you choose the individual that’s right for you much like any type of work this is your monetary possessions so we definitely require 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 want to use this function we have actually got a couple of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative 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 will not need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a terrific alternative for you again to evaluate the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had invested your real cash it enables you to develop 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 really how to copy people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk 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 financial investments the riskier you can be run the risk of just indicates am i fine with potentially losing a good quantity of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly means they’ll lose eventually in their journey certainly individuals do generate income too and i have actually got videos all about how you can make sure you are among individuals to actually make money however in this circumstance make sure you research study your threat level would you be okay providing your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky don’t choose someone who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact utilize this too actually quickly over here you can copy people now it will offer you a lot of choices and you can use the system to really look for somebody that you elegant in fact following so let’s see maybe we want somebody from joined kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has actually fulfilled that requirements and it does offer you a danger aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really buying 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 definitely like kind 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 in fact for me understanding 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 seems to be what she chooses she’s also got a little bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production business as that. Social Trading Etoro.
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