We get htis a lot on our site the answer to Etoro Irvine Ca….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely do not wish to choose what you really wish to invest and you want somebody to do it for you there’s only a number of ways that that can take place the firstly you can hire a financial investment portfolio manager they’ll typically 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 obviously you can purchase mutual funds specific funds are produced once 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 remember this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform do not just 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 money they give that alternative as well so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row buy these options since you believe is the best ones for you which being said let’s dive straight in [Music] so the 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 element that is probably.
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famous for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 10 of their financial 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 fees involved really vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost sites then might not charge you for really buying and selling funds or etfs individual products private 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 kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and lastly some finest suggestions best 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 costs truly crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling all right so commission charges are free however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you offer your products 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 just withdrawing when i absolutely require to now you might state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those options that they have a lot of platforms certainly 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 6 months you know depends totally how you’re investing but that is a cost to remember the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually giving you in regards to 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 rather you have to pay their costs now the fantastic feature of however when you’ve converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 additional fees so that’s really good using that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the sale price fine it’s their premium on doing both those two 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 really means that when you wish to purchase or offer as you can see it’s not the price 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 distinction then actually to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you say okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread fees it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit money now the last task is called an
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over night cost now this is actually important if you’re actually using cfds yourself as well an overnight charge is when you’re not doing that buy sell transaction in the same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday before sailing 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 leverage which means you’re actually buying the specific asset rather than utilizing take advantage of anyway you will not get hit with these fees but these costs are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you go into the help section this isn’t the over night fees information 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 just applies as i said to cfds there are some additional charges of course depending upon what you are buying too this is on your own so keep that in mind however complete costs are entirely within their aid info alright and we discussed as well as complimentary 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 whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of actually utilizing these copy functions they don’t have any additional fees on top of the regular costs that
are there now what you require to remember though is these possibly managed by other people entirely or in some cases have actually created portfolios you have actually got a real person doing the management you need to make sure you select the person that’s right for you just like any type of work this is your monetary assets so we definitely need to ensure it’s the best person 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 alternatives 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 genuine 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 will not need to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a terrific alternative for you again to test the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it clearly you might have missed out on gains and losses during that time obviously if you had actually invested your real money it allows you to develop self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my real 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 pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i indicate 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 risk just suggests am i alright with potentially losing an excellent amount of this investment or gaining as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money but that similarly indicates they’ll lose at some time in their journey clearly individuals do generate income too and i’ve got videos all about how you can make sure you are among individuals to actually generate income but in this scenario make sure you research your risk level would you be fine giving your money to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that risky don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really use this too actually quickly over here you can copy people now it will provide you a great deal of options and you can utilize the system to in fact search for someone that you expensive really following so let’s see maybe we want somebody from united kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has satisfied that criteria and it does provide you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not suggest somebody 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 easy as clicking the copy button and off you go and then you know ask you to verify are you alright 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 in fact deep dive into what is she in fact investing in 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 excellent to understand ibm paypal yep she’s definitely like type 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 in fact for me knowing what i like to invest in 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 chooses she’s likewise got a little bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Irvine Ca.
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