We get htis a lot on our site the answer to Etoro Openbook App….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to decide what you actually want to invest and you want someone to do it for you there’s only a number of ways that that can happen the firstly you can hire an investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular 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 a total please bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just presume since 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 consider that choice as well so you actually get used to the structure of the site and then when you’re ready to utilize 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 purchasing genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has actually said they have actually made profit 14 months in a row purchase these options because you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the 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 element that is probably.
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famous for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be imitated 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 cash in so we’re going to also cover is the charges included truly crucial you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 begin investing in copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees truly crucial to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission charges are complimentary however there are a number of other costs the very first one is withdrawal costs so you can clearly put money in now if you remain 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 wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum quantity 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 just withdrawing when i absolutely require to now you might state alright 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 somewhere and withdrawal charges are just among those choices that they have a lot of platforms obviously are totally 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 once every six months you know depends completely how you’re investing but that is a fee 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 an alternative to purchase 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 anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i suppose stuck with whatever charge 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 fee exists what are they in fact offering you in regards to 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 provide me us dollars instead you need to pay their costs now the fantastic feature of however when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their site will not definitely limit you in any way however we need to understand 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is generally the difference that belongs to the investment platform in between the buy price and the list price alright 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 actually indicates that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the current price of tesla is the worth of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind obviously it’s more costly 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 occur 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 sell it which is how they make a little bit of money on those spread out fees it’s generally extremely small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last task is called an
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overnight fee now this is actually crucial if you’re in fact utilizing cfds yourself also an overnight fee is when you’re refraining from doing that buy sell deal in the very same day alright there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which indicates you’re really buying the exact property rather than utilizing leverage anyhow you will not get hit with these charges but these costs are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s state if you go into the assistance area this isn’t the over night fees information you can see precisely the breakdown and it’ll tell 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 just applies as i stated to cfds there are some added fees naturally depending on what you are buying as well this is on your own so keep that in mind however full costs are completely within their assistance details all right and we discussed in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of really using these copy works they don’t have any additional fees on top of the typical fees that
are there now what you need to remember though is these potentially managed by other individuals entirely or sometimes have produced portfolios you have actually got a genuine individual doing the management you need to ensure you pick the individual that’s right for you just like any line of work this is your monetary properties so we definitely need 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 utilize this function we have actually got a number of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i think 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 credit card information or anything you can generally have this virtual portfolio simulate 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 using your real cash possibly this is a terrific option for you again to evaluate the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it clearly you might have missed out on gains and losses during that time of course if you had actually invested your real cash it allows you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to return 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 certain you understand what your risk profile is now what do i suggest by that certainly 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 simply suggests am i okay with possibly losing an excellent quantity of this financial investment or acquiring as
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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that similarly means they’ll lose at some point in their journey obviously individuals do earn money too and i’ve got videos all about how you can ensure you’re one of individuals to actually make money however in this circumstance make certain you research study your danger level would you be all right offering your money to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re someone who isn’t wishing to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too actually easily over here you can copy people now it will offer you a great deal of options and you can utilize the system to really search for somebody that you expensive in fact following so let’s see possibly we want somebody from unified kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has fulfilled that criteria and it does offer you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they might make 4 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 after that you understand ask you to validate are you fine with this and off you go now another method 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 in fact purchasing so let’s enter 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 definitely like sort 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 in fact for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Etoro Openbook App.
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