We get htis a lot on our site the answer to 407 Letter Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just do not want to decide what you in fact want to invest and you want someone to do it for you there’s just a number of ways that that can happen the first of all you can employ a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is of course you can buy 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 also now if you’re brand new to an overall please bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact get used to the structure of the website 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 investing in real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they’ve made revenue 14 months in a row buy these options since you think 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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popular for it’s the alternative 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 therefore that implies with our money we can really say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for example 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 likewise cover is the fees involved truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee websites then may not charge you for really buying and selling funds or etfs specific products private 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 sort of charges 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 understand before you really start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges really essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling alright so commission fees are totally free however there are a couple of other charges the very first one is withdrawal costs 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 however when you want to withdraw your cash so you offer your shares you offer your products 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 of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of 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 perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a charge to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
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a great deal 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 charge now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually providing 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 state offer me us dollars rather you have to pay their charges now the excellent thing about however when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread fee as i’m going to show you
on is generally the distinction that belongs to the investment platform in between the buy cost and the price fine 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 means that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing rate of tesla is the worth of a share what’s called spread fees is the distinction then in fact to purchase 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 purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you say fine well why does that happen it just 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 sell it and that is how they make a little bit of money on those spread out costs it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit money now the last accomplishment is called an
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over night fee now this is actually important if you’re actually using cfds yourself also an overnight charge is when you’re not doing that buy sell deal in the same day fine there’s then an over night charge charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this just 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 means you’re really purchasing the precise possession rather than using utilize anyhow you won’t get hit with these charges however these fees are if you’re utilizing utilize 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 help area 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 fees then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some surcharges naturally depending upon what you are buying too this is on your own so keep that in mind however complete fees are completely within their help details alright and we spoke about along with complimentary to deposit in however 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 five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of in fact using these copy functions they don’t have any additional costs on top of the typical fees that
are there now what you require to bear in mind though is these possibly managed by other individuals entirely or sometimes have actually produced portfolios you have actually got a genuine individual doing the management you need to make sure you select the individual that’s right for you much like any type of work this is your monetary possessions so we definitely need to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to use 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 option to invest genuine money or a virtual platform virtual methods 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 require 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 however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a great option for you again to check the theories alright you might wish to purchase tesla or apple or this etf why not use the virtual option as a method to kind of safe play with it undoubtedly you may have missed out on gains and losses throughout that time obviously if you had actually invested your genuine money it permits 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 in fact 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 comprehend what your threat profile is now what do i imply by that undoubtedly 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 risk simply suggests am i okay with possibly losing a good quantity of this investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money but that equally suggests they’ll lose eventually in their journey clearly people do make money as well and i have actually got videos all about how you can make sure you are among individuals to really earn money but in this scenario make certain you research study your risk level would you be all right giving your money 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 wanting to be that dangerous don’t choose somebody who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really use this too actually quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to in fact search for someone that you elegant really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has fulfilled that criteria and it does provide you a risk aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you fine 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 in fact deep dive into what is she actually purchasing 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 good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is excellent so actually for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s also got a little bit more um of the type of main food business and you have actually got you understand pharmaceutical and production companies as that. 407 Letter Etoro.
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