We get htis a lot on our site the answer to Steve And Dave Use Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you actually wish to invest and you desire somebody to do it for you there’s just a number of manner ins which that can occur the firstly 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 profits will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 as well now if you’re brand new to an overall please bear in mind this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not just assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get used to the structure of the site and after that 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 buying genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row purchase these options since you think is the best ones for you which being said let’s dive straight 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 probably.
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well-known for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means 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 included actually vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real 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 cost websites then might not charge you for really buying and selling funds or etfs specific products individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 know before you actually begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges really crucial to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling all right so commission charges are complimentary nevertheless there are a number of other fees the very first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say okay that’s rather expensive 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 simply among those choices that they have a great deal of platforms undoubtedly 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 once every 6 months you know depends completely how you’re investing but that is a charge to keep in mind the second fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway 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 use anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually offering you in regards to 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 state provide me us dollars rather you have to pay their costs now the terrific thing about however when you’ve converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good utilizing that part of their site won’t definitely limit you in any way however we have to know two other costs the first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you
on is basically the distinction that becomes part of the financial investment platform between the buy rate 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 today tesla’s dollar worth 599 per share in tesla that in fact means that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the current rate of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of benefit 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 offer so they’re going to provide you less back with your sale and you state alright well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a little bit of money on those spread costs it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last accomplishment is called an
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overnight charge now this is actually important if you’re in fact using cfds yourself as well an overnight charge is when you’re refraining from doing that buy sell transaction in the very same day all right there’s then an over night charge charged or even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which implies you’re in fact buying the specific property instead of utilizing utilize anyway you will not get hit with these costs but these costs 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 same day so let’s state if you go into the assistance section this isn’t the overnight fees info 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 only uses as i said to cfds there are some surcharges obviously depending upon what you are purchasing as well this is on your own so keep that in mind but full costs are totally within their assistance information alright and we discussed as well as free to deposit in but 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 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of actually utilizing these copy functions they do not have any extra costs on top of the normal fees that
exist now what you need to keep in mind though is these potentially managed by other individuals totally or in some cases have produced portfolios you have actually got a real individual doing the management you have to make sure you pick the person that’s right for you much like any kind of work this is your financial possessions so we absolutely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a great choice for you once again to evaluate the theories fine you might want to purchase tesla or apple or this etf why not use the virtual alternative as a way to kind of safe have fun with it obviously you may have lost out on gains and losses throughout that time naturally if you had actually invested your genuine money it allows you to develop confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back 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 select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just suggests am i fine with potentially losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly suggests they’ll lose at some time in their journey obviously people do earn money too and i’ve got videos all about how you can ensure you’re one of individuals to in fact earn money however in this situation make certain you research study your risk level would you be alright giving your cash to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might 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 really easily over here you can copy people now it will offer you a great deal of options and you can utilize the system to in fact search for someone that you elegant in fact following so let’s see possibly we want someone from unified kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has satisfied that requirements and it does give you a danger aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure 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 okay 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 actually deep dive into what is she in fact buying so let’s go 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 type of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is excellent so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a little bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Steve And Dave Use Etoro.
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