We get htis a lot on our site the answer to Bakkt Vs Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to choose what you actually wish to invest and you desire someone to do it for you there’s only a number of manner ins which that can occur the to start with you can hire a financial investment portfolio manager they’ll normally 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 obviously you can purchase mutual funds specific funds are produced once again with an account manager 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 rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform do not just presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the website 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 risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row buy these choices since you think is the best ones for you and that being said 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 probably.
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popular for it’s the alternative to see what other traders are doing incredible we don’t normally 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 money we can really state i want to do precisely what that trader is doing or match that exact portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 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 involved really important you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 a few of the no fee sites then might not charge you for really buying and selling etfs or funds individual commodities individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees truly important to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put money 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 on however when you wish to withdraw your cash so you offer your shares you offer 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 just withdrawing when i absolutely require to now you may say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those options that they have a lot 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 maybe even once a year once every six months you know depends completely how you’re investing but that is a charge to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’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 buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering 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 say provide me us dollars rather you have to pay their charges now the fantastic feature of though when you have actually converted your money you do not have 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great using that part of their website will not definitely limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is basically the difference that becomes part of the investment platform between the buy rate and the price alright 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 worth 599 per share in tesla that actually means that when you want to sell or buy as you can see it’s not the price you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll discover this everywhere 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 sell so they’re going to give you less back with your sale and you state alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread out charges it’s typically exceptionally 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 cash now the last feat is called an
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overnight cost now this is truly important if you’re really using cfds yourself as well an over night charge is when you’re refraining from doing that buy sell transaction in the same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which implies you’re in fact buying the precise property instead of utilizing leverage anyway you won’t get hit with these fees however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the help section this isn’t the overnight costs info you can see exactly 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 uses as i said to cfds there are some service charges obviously depending upon what you are investing in as well this is on your own so keep that in mind however complete costs are entirely within their help info fine and we talked about in addition to 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 whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of really using these copy works they do not have any additional charges on top of the regular charges that
are there now what you need to bear in mind though is these possibly managed by other people completely or often have actually produced portfolios you have actually got a real person doing the management you have to make certain you choose the individual that’s right for you just like any kind of work this is your monetary properties so we absolutely need to make certain it’s the right 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 couple of various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a great option for you again to test the theories all right you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it obviously you might have missed out on gains and losses during that time naturally if you had invested your real money it enables you to develop confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember prior to you select somebody 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 run the risk of just implies am i okay with potentially losing an excellent quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money but that similarly means they’ll lose eventually in their journey obviously people do make money also and i’ve got videos everything about how you can make certain you are among individuals to actually make money however in this scenario ensure you research study your danger level would you be fine offering your cash to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that risky do not select someone who’s entirely into crypto or currency conversion think of 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 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 actually quickly over here you can copy people now it will give you a lot of options and you can utilize the system to in fact look for someone that you fancy really following so let’s see possibly we desire someone 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 a great amount and i can discover everybody who has actually met that requirements and it does provide you a risk factor also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not imply 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 then you understand ask you to confirm are you all right with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually 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 know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is good so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a bit more um of the sort of primary food companies and you have actually got you understand pharmaceutical and production business as that. Bakkt Vs Etoro.
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