We get htis a lot on our site the answer to Difference Between Robinhood And Etoro….Concerns that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you in fact want to invest and you want someone to do it for you there’s just a couple of manner ins which that can happen the to start with you can employ a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are produced 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 also now if you’re brand new to a total please keep in mind this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume because 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 cash they consider that choice as well so you really get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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famous for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 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 really critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real 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 no cost sites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you really start purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with costs truly essential to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission costs 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’re 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 later on but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing but that is a fee to bear in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good 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 open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they in fact 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 state give me us dollars rather you have to pay their costs now the excellent thing about however when you’ve 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 indicates the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to know two other charges the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is basically the distinction that is part of the investment platform between the buy cost and the price fine 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 worth 599 per share in tesla that actually implies that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the current price of tesla is the worth of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say fine well why does that occur it simply does that is the nature of a great deal 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 bit of cash on those spread out fees it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last accomplishment is called an
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overnight fee now this is actually essential if you’re actually using cfds yourself too an overnight charge is when you’re refraining from doing that buy sell deal in the exact same day alright there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which suggests you’re in fact buying the specific property instead of using leverage anyway you will not get hit with these costs but these charges are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the help area this isn’t the overnight fees info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete fees are entirely within their assistance details fine and we spoke about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of in fact utilizing these copy functions they do not have any extra fees on top of the regular charges that
exist now what you require to bear in mind though is these possibly handled by other people entirely or in some cases have actually created portfolios you have actually got a real individual doing the management you need to make sure you pick the individual that’s right for you much like any line of work this is your financial properties so we absolutely need to ensure it’s the ideal individual 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 couple of different alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash 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 mimic as if you are utilizing your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is a fantastic alternative for you once again to check the theories okay you might want to buy tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it certainly you may have lost out on gains and losses during that time naturally if you had invested your genuine cash it permits you to develop self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember before you choose someone 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 clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply suggests am i fine with possibly losing an excellent quantity of this financial investment or gaining as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 people will lose cash but that equally means they’ll lose at some time in their journey undoubtedly individuals do generate income too and i have actually got videos all about how you can make sure you’re one of the people to in fact generate income however in this situation make certain you research study your danger level would you be fine providing your cash to another person which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous do not pick someone who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually utilize this too really easily over here you can copy people now it will offer you a lot of options and you can use the system to really search for somebody that you elegant in fact following so let’s see possibly we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has actually met that criteria and it does provide you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
keep in mind 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 could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine really that i buy too which is good so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s also got a little bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production business as that. Difference Between Robinhood And Etoro.
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