We get htis a lot on our site the answer to Crypto Wallet Vs Etoro….Concerns that i hear from new investors what if you’re brand new to investing you simply do not wish to decide what you really wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the firstly you can hire a financial investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds particular 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 also now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really 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 risk this is investing we’re doing you’re investing in genuine business 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 danger and we have to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row purchase these choices since you think 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 belongs to 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 unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included truly critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts possibly 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 costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with costs actually important to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a couple of other fees the very 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 immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity 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 sure that i’m just withdrawing when i definitely need to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms certainly are totally free 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 understand depends totally how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
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a lot 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 fee now when you use anyone so if you’re using trading two and two free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually offering 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 give me us dollars rather you have to pay their charges now the great thing about though when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 good utilizing that part of their website will not definitely restrict you in any way nevertheless we have to know 2 other fees the first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is basically the difference that becomes part of the financial investment platform in between the buy rate and the list price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact means that when you wish to buy or offer as you can see it’s not the rate 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 distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that happen it just 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 wish to offer it which is how they make a little bit of money on those spread out charges it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight fee now this is actually crucial if you’re really utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night cost charged or even if you go from the friday to the monday prior to sailing a weekend cost 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 indicates you’re really buying the exact property rather than using take advantage of anyway you won’t get hit with these charges but these charges are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you enter into the assistance section this isn’t the overnight costs info 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 overnight or you’re doing over weekends which only uses as i stated to cfds there are some service charges of course depending on what you are buying also this is on your own so keep that in mind but full costs are totally within their assistance details fine and we talked about as well as free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of in fact utilizing these copy operates they do not have any additional costs on top of the typical charges that
exist now what you need to bear in mind though is these possibly managed by other individuals completely or in some cases have produced portfolios you’ve got a genuine person doing the management you need to make sure you choose the individual that’s right for you similar to any line of work this is your financial assets so we definitely need to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the option 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 information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money but in fact buy 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 great alternative for you once again to test the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual choice as a method to type of safe have fun with it clearly you may have missed out on gains and losses throughout that time naturally if you had actually invested your real money it enables you to build 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 bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i indicate by that undoubtedly 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 suggests am i all right with potentially losing a great amount of this financial investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly indicates they’ll lose at some point in their journey obviously people do generate income as well and i’ve got videos everything about how you can ensure you’re one of individuals to in fact make money however in this circumstance make sure you research study your threat level would you be alright giving your cash to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong commodities
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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 exact same with who you’re following now as i state you can really utilize this too truly easily over here you can copy people now it will provide you a great deal of choices and you can utilize the system to actually search for someone that you expensive actually following so let’s see maybe we desire someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has actually met that criteria and it does offer you a threat 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 number of people that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another method 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 really purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is excellent so actually for me knowing what i like to invest in 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 also got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Crypto Wallet Vs Etoro.
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