We get htis a lot on our site the answer to Aplication Etoro….Concerns that i hear from new financiers what if you’re brand new to investing you just do not want to choose what you actually want to invest and you desire someone to do it for you there’s only a number of manner ins which that can take place the firstly you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 bear in mind this platform is quite advanced you can do cfds which of course 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 simply assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being stated let’s dive directly 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 becomes part of social trading which is one aspect that is probably.
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well-known for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio remains 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 understand what are the expenses of this now with any platform there will be some expense to certainly 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 websites then may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees truly important to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling all right so commission costs are free however there are a number of other costs the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 later but when you wish to withdraw your money so you offer 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 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms undoubtedly 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 six months you understand depends totally how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or 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 open market anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 have to pay their charges now the excellent feature of however when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their site won’t definitely limit you in any way however we need to know 2 other charges the first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the investment platform in between the buy price and the list price fine 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 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 again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another way that 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 provide you less back with your sale and you say okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference in 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 charges it’s normally exceptionally 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 bit money now the last feat is called an
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overnight charge now this is actually 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 exact same day all right there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re in fact buying the precise possession instead of using utilize anyhow you will not get hit with these costs but these charges are if you’re using leverage and cfds and then 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 section this isn’t the overnight charges information 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 over night or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges obviously depending on what you are buying too this is on your own so keep that in mind however complete charges are totally within their help information okay 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 normal commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really using these copy operates they don’t have any extra costs on top of the normal fees that
are there now what you require to keep in mind though is these potentially handled by other people completely or often have actually developed portfolios you have actually got a real individual doing the management you have to make certain you select the individual that’s right for you just like any kind of work this is your monetary possessions so we definitely require to ensure it’s the right person for us before 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 choices for us to start with 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 ways 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 credit card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is an excellent choice for you once again to test the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe play with it obviously you might have missed out on gains and losses during that time of course if you had actually invested your genuine 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 go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i indicate 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 just implies am i alright with potentially losing an excellent quantity of this financial investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey undoubtedly individuals do generate income too and i have actually got videos all about how you can ensure you are among individuals to actually generate income but in this circumstance make sure you research your threat level would you be okay offering your cash to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 really utilize this too actually easily over here you can copy individuals now it will give you a lot of options and you can use the system to really search for somebody that you fancy in fact following so let’s see possibly we desire someone from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everybody who has actually met that criteria and it does provide you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
bear 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 way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you okay with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact 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 little bit so that’s great to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is excellent so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s likewise got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production business as that. Aplication Etoro.
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