We get htis a lot on our site the answer to Cryptowatch Vs Coinigy Vs Etoro….Concerns that i speak with new investors what if you’re brand new to investing you just don’t wish to choose what you actually want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the firstly you can hire an investment portfolio supervisor they’ll generally charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 an overall please bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get utilized 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 of course your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re discussing how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually said they’ve made profit 14 months in a row buy these options since you think is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
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popular for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests if for instance 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 likewise cover is the charges involved truly vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 understand before you in fact start purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission costs are totally free however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state okay that’s quite expensive 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 simply one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy 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 purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they actually giving 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 give me us dollars instead you need to pay their fees now the excellent aspect of though when you have actually transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means 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 additional fees so that’s really excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you
on is basically the distinction that is part of the investment platform between the buy rate and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that actually implies that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to offer you less back with your sale and you state all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread out charges it’s generally extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit money now the last feat is called an
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over night fee now this is actually crucial if you’re actually utilizing cfds yourself also an over night fee is when you’re refraining from doing that buy sell transaction in the exact 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 cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which means you’re in fact purchasing the specific asset rather than utilizing take advantage of anyway you won’t get hit with these charges but these costs are if you’re utilizing 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 tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some added fees of course depending on what you are investing in also this is on your own so keep that in mind but full fees are totally within their aid info all right and we discussed in addition to totally free to deposit in but there’s a 5 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 cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of actually utilizing these copy functions they do not have any extra fees on top of the regular charges that
are there now what you need to keep in mind though is these possibly managed by other people entirely or in some cases have created portfolios you have actually got a genuine person doing the management you have to make certain you select the person that’s right for you similar to any type of work this is your financial properties so we definitely require to make sure it’s the right individual for us before 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 options for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a great choice for you once again to evaluate the theories okay you may want to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe play with it obviously you may have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i mean by that certainly 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 means am i okay with possibly losing a good amount of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally indicates they’ll lose at some time in their journey undoubtedly individuals do make money also and i’ve got videos all about how you can ensure you’re one of individuals to actually make money but in this situation make sure you research your threat level would you be okay giving your money to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in totally if you’re somebody who isn’t wishing to be that risky do not select someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really use this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to in fact search for somebody that you expensive actually following so let’s see maybe we want someone from joined kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has actually fulfilled that criteria and it does offer you a danger factor 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 variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make 4 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 after that you understand ask you to confirm are you all right with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she actually purchasing 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 understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i purchase too which is excellent so actually for me knowing what i like to purchase my individual 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 bit more um of the type of primary food business and you’ve got you know pharmaceutical and production companies as that. Cryptowatch Vs Coinigy Vs Etoro.
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