We get htis a lot on our site the answer to Cointracking Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to decide what you really wish to invest and you desire somebody to do it for you there’s only a number of manner ins which that can happen the firstly you can work with an investment portfolio supervisor they’ll usually charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are developed 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 rather innovative you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get used to the structure of the site and then when you’re ready to utilize 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 buying real companies if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row buy these choices because you believe is the right 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 option to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for instance 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 also cover is the costs involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with charges actually important to comprehend these now on there’s a couple of charges there isn’t charges to do with really buying and selling all right so commission fees are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money 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 five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those options 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 largely it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a fee to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that fits me.
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a lot 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 fee now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i expect stuck with whatever charge 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 charge exists what are they actually providing you in terms of 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 instead you need to pay their fees now the great thing about though when you’ve converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their site will not certainly restrict you in any way however we have to understand 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy price and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually means that when you want to sell or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you each time you do a buyer’s share so keep that in mind clearly 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 say okay 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 wish to offer it which is how they make a bit of money on those spread out charges it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit money now the last task is called an
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over night cost now this is actually crucial if you’re actually using cfds yourself also an overnight cost is when you’re not doing that buy sell deal in the very same day fine there’s then an over night fee charged or even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re in fact purchasing the exact property instead of using leverage anyhow you will not get hit with these costs 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 very same day so let’s state if you go into the assistance area this isn’t the over night costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just uses as i said to cfds there are some service charges of course depending on what you are purchasing too this is on your own so keep that in mind but complete costs are entirely within their aid details all right and we spoke about along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of actually utilizing these copy functions they do not have any additional costs on top of the regular charges that
are there now what you require to bear in mind though is these possibly managed by other people completely or sometimes have developed portfolios you’ve got a real individual doing the management you have to ensure you select the individual that’s right for you just like any kind of work this is your monetary possessions so we definitely need to make certain it’s the right person 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 options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your credit card information or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however in fact purchase pretend buy copy individuals 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 check the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to type of safe have fun with it obviously you may have missed out on gains and losses during that time of course if you had invested your real cash it permits you to develop self-confidence comprehend the platform so that’s one choice 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 individuals and copy portfolios now here’s something to remember prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of just suggests am i fine with possibly losing an excellent quantity of this investment or gaining as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose money however that equally means they’ll lose at some time in their journey certainly individuals do generate income too and i have actually got videos all about how you can make certain you are among individuals to really generate income but in this circumstance make certain you research your threat level would you be all right giving your cash to someone else which is effectively what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re someone who isn’t wanting to be that dangerous do not select someone who’s completely 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 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 actually utilize this too really quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to actually search for someone that you fancy actually following so let’s see possibly we want someone from joined kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has fulfilled that requirements and it does give you a threat 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 number of individuals that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not indicate 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 understand ask you to validate are you all right with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she in fact buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got some of mine actually that i invest in too which is excellent so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production companies as that. Cointracking Etoro.
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