We get htis a lot on our site the answer to Etoro Kirex….Questions that i speak with new financiers what if you’re brand new to investing you just don’t want to choose what you actually want to invest and you want someone to do it for you there’s just a number of ways that that can occur the to start with you can hire an investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular 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 too now if you’re brand new to a total please keep in mind this platform is rather sophisticated 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 learning about please do study the platform don’t just presume because i use 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 option too so you in fact get used to the structure of the website and after that when you’re ready to use 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 investing in real companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row purchase these choices because you believe is the right ones for you and that being stated 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’s part of social trading which is one aspect that is probably.
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well-known for it’s the alternative to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge sites then might not charge you for actually buying and selling etfs or funds individual commodities individual 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 type of fees 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 before you really start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really important to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission charges are totally free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously put money 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 later but when you wish to withdraw your cash so you sell your shares you sell 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those alternatives that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends completely how you’re investing but that is a charge to remember the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering you in regards to 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 say provide me us dollars rather you need to pay their costs now the great thing about however when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy 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 really great utilizing that part of their website will not definitely restrict you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the financial investment platform between the buy rate and the 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 worth 599 per share in tesla that really implies that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that once again so the present price of tesla is the worth of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of make money from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you say alright 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 want to sell it and that is how they make a bit of money on those spread out fees it’s usually incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last feat is called an
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overnight cost now this is truly crucial if you’re really utilizing cfds yourself also an over night charge is when you’re refraining from doing that buy sell transaction in the very 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 fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which implies you’re actually purchasing the exact asset instead of utilizing take advantage of anyway you will not get hit with these costs but these fees are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the assistance area this isn’t the over night costs information 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 overnight or you’re doing over weekends which just uses as i stated to cfds there are some additional charges naturally depending on what you are investing in also this is on your own so keep that in mind however full charges are entirely within their help details alright and we talked about as well as totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of actually using these copy functions they don’t have any extra charges on top of the typical charges that
exist now what you require to bear in mind though is these possibly handled by other individuals totally or often have actually created portfolios you’ve got a genuine individual doing the management you need to make sure you select the person that’s right for you similar to any kind of work this is your monetary properties so we absolutely require to make sure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are using your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a great alternative for you again to evaluate the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it clearly you might have missed out on gains and losses during that time obviously if you had invested your real cash it permits you to develop confidence understand 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 people and copy portfolios now here’s something to remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat 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 investments the riskier you can be risk simply indicates am i fine with possibly losing an excellent amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose money but that equally implies they’ll lose at some time in their journey undoubtedly individuals do earn money as well and i have actually got videos all about how you can make sure you’re one of individuals to really make money however in this situation ensure you research your threat level would you be alright offering your cash to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wishing to be that risky don’t pick somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a backbone 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 same with who you’re following now as i say you can really utilize this too truly quickly over here you can copy people now it will provide you a lot of choices and you can use the system to in fact look for somebody that you expensive really following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has satisfied that criteria and it does offer you a risk factor as well 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’s like anything to do with the news or predictions 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 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 know ask you to confirm are you okay with this and off you go now another method to in fact deep dive if we click 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 certainly like type of into those blue box and the tech industry she’s got some of mine really that i buy too which is excellent so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems 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 understand pharmaceutical and production companies as that. Etoro Kirex.
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