We get htis a lot on our site the answer to Acorns Vs Etoro Review….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not wish to choose what you in fact want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the firstly you can hire a financial investment portfolio manager 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 specific funds are developed 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 as well now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really get utilized to the structure of the site and then 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 danger this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made earnings 14 months in a row invest in these choices due to the fact that you believe is the right ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for instance 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 included actually crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real 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 no fee websites then might not charge you for in fact buying and selling funds or etfs private products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the charges 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 recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission costs are free however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you offer your commodities 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 understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might 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 fees someplace and withdrawal fees are just one of those choices that they have a lot 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 as soon as every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow 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 utilize anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving 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 give me us dollars rather you need to pay their fees now the fantastic thing about however when you’ve transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent using that part of their website won’t definitely restrict 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 show you what i suggest on now a spread fee as i’m going to show you
on is generally the difference that becomes part of the investment platform in between the buy rate and the list price all right 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 value 599 per share in tesla that actually implies that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the existing rate of tesla is the worth of a share what’s called spread charges is the difference then actually 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 benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread costs it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last feat is called an
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over night charge now this is really important if you’re actually using cfds yourself too an overnight cost is when you’re refraining from doing that buy offer deal in the very same day okay there’s then an over night cost charged and even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which indicates you’re in fact buying the exact property rather than using leverage anyway you won’t get hit with these fees however these costs are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the aid area this isn’t the over night charges 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 only applies as i said 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 but complete costs are completely within their assistance information all right and we talked about as well as totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of actually utilizing these copy works they do not have any extra charges on top of the typical fees that
exist now what you require to remember though is these possibly managed by other individuals completely or sometimes have actually developed portfolios you have actually got a real individual doing the management you need to make sure you pick the person that’s right for you similar to any kind of work this is your financial properties so we absolutely need to make certain it’s the best individual 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 different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative 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 need to put in your charge card information or anything you can basically have this virtual portfolio mimic 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 using your genuine money maybe this is an excellent choice for you again to check the theories okay you may want to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe play with it certainly you might have lost out on gains and losses during that time of course if you had invested your genuine money it allows you to build self-confidence understand 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 really how to copy people and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure 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 say the longer you’re leaving your investments the riskier you can be risk simply indicates am i all right with potentially losing an excellent amount of this financial investment or getting as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the fact 75 people will lose money however that similarly indicates they’ll lose at some point in their journey clearly people do generate income too and i’ve got videos all about how you can make certain you’re one of individuals to really make money however in this circumstance ensure you research your danger level would you be alright giving your cash to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re someone who isn’t wanting to be that dangerous don’t choose someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too truly quickly over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to actually look for somebody that you fancy actually following so let’s see maybe we desire someone from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has actually fulfilled that requirements and it does give you a threat factor as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to validate are you alright with this and off you go now another way to actually deep dive if we click on this person for example ruby mza as an example you can in fact 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 good to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine really that i invest in too which is great so in fact for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Acorns Vs Etoro Review.
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