We get htis a lot on our site the answer to Cointracking Etoro Gdax….Concerns that i hear from new investors what if you’re brand new to investing you merely do not wish to choose what you actually want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can occur the first of all you can employ an investment portfolio manager they’ll typically charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds specific funds are created 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 too now if you’re brand new to an overall please bear in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume because 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 consider that choice too so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they’ve made revenue 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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well-known for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly critical you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 absolutely no charge websites then might not charge you for really buying and selling etfs or funds private products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges actually crucial to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission costs are complimentary nevertheless there are a couple of other costs the very first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you offer your products 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the second cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really 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 state provide me us dollars rather you need to pay their charges now the excellent aspect of however when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies 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 extra costs so that’s actually great utilizing that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of two other costs the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you
on is generally the difference that belongs to the financial investment platform in between the buy price 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 value 599 per share in tesla that really implies that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing rate of tesla is the value of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to offer 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 difference in between if you’re buying it then you want to sell it which is how they make a little bit of cash on those spread out fees it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last task is called an
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overnight cost now this is actually crucial if you’re actually utilizing cfds yourself too an overnight cost is when you’re refraining from doing that buy offer transaction in the very same day all right there’s then an overnight cost charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which indicates you’re actually buying the precise possession rather than using leverage anyhow you won’t get hit with these charges but these costs are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s state if you enter into the help section this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some added fees naturally depending upon what you are purchasing too this is on your own so keep that in mind however full fees are entirely within their help details alright and we discussed in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal 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 different methods of in fact utilizing these copy works they don’t have any additional costs on top of the typical charges that
exist now what you require to keep in mind though is these potentially managed by other individuals entirely or in some cases have actually produced portfolios you have actually got a genuine individual doing the management you need to make certain you pick the individual that’s right for you just like any line of work this is your financial assets so we definitely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different 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 option to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a terrific option for you once again to test the theories alright you may want to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe play with it undoubtedly you may have lost out on gains and losses during that time obviously if you had invested your genuine money it permits you to construct self-confidence comprehend 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 in fact how to copy people and copy portfolios now here’s something to bear in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i mean by that certainly 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 just indicates am i all right with potentially losing an excellent amount of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 people will lose money however that equally implies they’ll lose at some time in their journey undoubtedly individuals do make money as well and i have actually got videos all about how you can make certain you’re one of individuals to really generate income but in this scenario make sure you research study your danger level would you be all right giving your cash to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation 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 exact same with who you’re following now as i say you can really use this too actually easily over here you can copy individuals now it will offer you a great deal of choices and you can use the system to really look for someone that you fancy actually following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has fulfilled that requirements and it does give 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 certainly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to verify are you all right with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really 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 certainly like sort of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is great so in fact for me knowing what i like to buy my specific 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 little bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production business as that. Cointracking Etoro Gdax.
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