We get htis a lot on our site the answer to Colby Martin Etoro….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 want to invest and you desire somebody to do it for you there’s just a couple of manner ins which that can happen the firstly you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can purchase 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 too now if you’re brand new to an overall please remember this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you in fact get utilized 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 threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not just do something because that person has actually stated they have actually made revenue 14 months in a row purchase these choices since you think 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 probably.
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popular for it’s the option to see what other traders are doing incredible we do not usually 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 cash we can actually state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved really important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero cost websites then may not charge you for in fact buying and selling etfs or funds specific products individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you really start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission costs are totally free however there are a number of other fees the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
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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 sell your products 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 of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a charge to bear in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow 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 open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually giving 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 say offer me us dollars instead you have to pay their fees now the excellent thing about however when you have actually transformed your cash 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 indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their site won’t certainly limit you in any way nevertheless 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 suggest on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the investment platform in between the buy price and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really implies that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread charges is the difference then really to buy 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 every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you state 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 bit of money on those spread out fees it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit money now the last feat is called an
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overnight fee now this is really essential if you’re really utilizing cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the exact same day fine there’s then an over night fee charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which indicates you’re really buying the precise property instead of using take advantage of anyhow you will not get hit with these charges but these charges are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you go into the assistance area this isn’t the overnight fees details you can see precisely 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 just applies as i stated to cfds there are some service charges obviously depending on what you are investing in too this is on your own so keep that in mind however full costs are totally within their assistance details fine and we spoke about in addition to free to deposit in but 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 cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really utilizing these copy functions they don’t have any additional charges on top of the normal charges that
exist now what you need to remember though is these possibly managed by other people totally or in some cases have developed portfolios you’ve got a genuine person doing the management you have to make sure you choose the person that’s right for you much like any profession this is your financial properties 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 want to utilize this function we’ve got a couple of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways i think 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 credit card details or anything you can generally have this virtual portfolio mimic as if you are using 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 utilizing your real money maybe this is a great choice for you again to evaluate the theories okay you might want to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe play with it obviously you may have lost out on gains and losses throughout that time naturally if you had actually invested your genuine cash it allows you to construct self-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 really how to copy individuals and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i imply by that obviously 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 simply indicates am i okay with possibly losing a great quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 people will lose money however that similarly suggests they’ll lose at some time in their journey undoubtedly people do make money too and i have actually got videos all about how you can make sure you are among the people to actually earn money however in this scenario ensure you research your danger level would you be fine offering your money to somebody else which is efficiently what you’re doing and trusting them ensure you understand what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous do not choose someone who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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like gold and even oil plus more conventional 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 say you can actually utilize this too actually easily over here you can copy people now it will provide you a great deal of options and you can use the system to actually look for someone that you elegant really following so let’s see perhaps we desire someone from united kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has met that requirements and it does provide you a threat factor too 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 individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody 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 basic as clicking the copy button and off you go and after that you understand ask you to confirm are you okay with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually buying 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 excellent to know ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine really that i buy 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 an excellent spread in tech business that seems to be what she chooses she’s also got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production companies as that. Colby Martin Etoro.
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