We get htis a lot on our site the answer to Can Etoro….Questions that i speak with new financiers what if you’re brand new to investing you just do not wish to choose what you actually want to invest and you desire someone to do it for you there’s just a number of ways that that can happen the firstly you can work with an investment portfolio manager they’ll normally charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are developed 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 as well now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you really get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they have actually made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive directly 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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well-known for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit 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 precise portfolio of options and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included actually vital you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then may not charge you for in fact buying and selling etfs or funds private products individual stocks.
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there’ll be costs on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to know prior to you really start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs really essential to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission fees are complimentary nevertheless there are a couple of other charges the 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 automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’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 buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever cost 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 fee is there what are they really providing you in regards to 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 give me us dollars instead you have to pay their charges now the excellent aspect of though when you’ve transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand two other costs the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is generally the difference that is part of the financial investment platform in between the buy rate and the sale price alright 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 suggests that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the present cost of tesla is the value of a share what’s called spread costs is the difference then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of make money from you each time you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you state all right 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 offer it which is how they make a little bit of cash on those spread fees it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last task is called an
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over night charge now this is really important if you’re actually using cfds yourself too an over night fee is when you’re refraining from doing that buy sell deal in the same day okay there’s then an overnight cost charged or 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 in fact buying out the etf the stock the commodity and utilizing time one take advantage of which means you’re in fact buying the precise asset instead of utilizing leverage anyhow you will not get hit with these charges however these charges 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 very same day so let’s say if you enter into the assistance area this isn’t the over night fees information 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 over night or you’re doing over weekends which just uses as i stated to cfds there are some service charges of course depending upon what you are buying as well this is on your own so keep that in mind however complete costs are entirely within their assistance details alright and we talked about in addition to free 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 five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of in fact utilizing these copy functions they don’t have any additional costs on top of the regular costs that
exist now what you need to keep in mind though is these potentially managed by other individuals entirely or often have actually produced portfolios you’ve got a real person doing the management you have to make certain you choose the person that’s right for you just like any type of work this is your monetary possessions so we definitely require to make sure it’s the right person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different options for us to start with 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 ways i think 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 credit card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is a great alternative for you again to evaluate the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe have fun with it obviously you may have missed out on gains and losses during that time naturally if you had invested your real cash it allows you to construct self-confidence understand the platform so that’s one option 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 choose 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 indicate by that obviously 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 just suggests am i fine with possibly losing a good quantity of this investment or gaining as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly means they’ll lose at some time in their journey clearly individuals do generate income as well and i’ve got videos all about how you can ensure you’re one of the people to really make money but in this circumstance make sure you research study your danger level would you be fine offering your money to someone else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy individuals now it will provide you a great deal of options and you can utilize the system to in fact search for somebody that you expensive actually following so let’s see possibly we desire somebody from united kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has actually fulfilled that requirements and it does provide you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 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 then you know ask you to validate are you okay with this and off you go now another way 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 really buying 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 know ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine really that i purchase too which is excellent so really for me understanding what i like to purchase 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 prefers she’s likewise got a little bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Can Etoro.
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