We get htis a lot on our site the answer to Etoro Compare….Questions that i speak with brand-new investors what if you’re brand new to investing you just don’t want to decide what you actually wish to invest and you want somebody to do it for you there’s just a number of manner ins which that can happen the first of all you can employ an investment portfolio supervisor they’ll normally charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are created 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 keep in mind this platform is rather innovative you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice also 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 of course your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has stated they have actually made profit 14 months in a row purchase these options because you believe is the best ones for you which being stated 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 alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 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 charges included really critical you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for in fact buying and selling funds or etfs individual products individual stocks.
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there’ll be costs on other parts possibly 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 show you the costs with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really crucial to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling fine so commission fees are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those options that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 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 cost to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually giving you in terms of 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 excellent thing about however when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 charges so that’s really great using that part of their site will not definitely restrict you in any way however we need to be aware of two other costs the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is generally the distinction that becomes part of the financial investment platform in between the buy cost and the sale price fine 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 purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover 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 undoubtedly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say all right well why does that happen it just 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 want to offer it and that is how they make a bit of money on those spread out charges it’s normally extremely 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 little bit cash now the last feat is called an
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over night fee now this is really essential if you’re actually using cfds yourself too an over night fee is when you’re not doing that buy sell transaction in the 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 only 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 really purchasing the precise asset instead of utilizing take advantage of anyway you won’t get hit with these costs but these costs are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you go into the assistance area this isn’t the overnight charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges 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 added fees obviously depending on what you are purchasing too this is on your own so keep that in mind but complete charges are entirely within their assistance details alright and we talked about as well as complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of actually using these copy operates they do not have any extra fees on top of the regular costs that
are there now what you require to keep in mind though is these potentially managed by other individuals entirely or often have actually created portfolios you have actually got a real person doing the management you need to make certain you pick the person that’s right for you much like any line of work this is your monetary assets so we absolutely 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 wish to use this function we’ve got a couple of different options 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 money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a terrific option for you again to evaluate the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it undoubtedly you might have missed out on gains and losses during that time naturally if you had actually invested your real cash it enables you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return 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 remember before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i suggest by that obviously 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 means am i okay with possibly losing a good quantity of this financial investment or acquiring as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose money however that equally implies they’ll lose at some point in their journey clearly individuals do earn money also and i have actually got videos all about how you can make sure you’re one of the people to actually generate income however in this circumstance ensure you research study your risk level would you be all right providing your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying totally if you’re someone who isn’t wanting to be that dangerous don’t pick someone who’s totally into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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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 actually utilize this too really quickly over here you can copy people now it will provide you a great deal of options and you can utilize the system to in fact look for somebody that you expensive really following so let’s see perhaps we desire somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has met that requirements and it does offer you a risk aspect too 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 predictions of the future this does not suggest someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to validate are you fine with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got a few of mine really that i buy too which is excellent so in fact for me knowing what i like to buy 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 prefers she’s likewise got a bit more um of the type of main food companies and you have actually got you know pharmaceutical and production business as that. Etoro Compare.
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