We get htis a lot on our site the answer to Etoro Knowledge Assessment….Questions that i hear from new financiers what if you’re brand new to investing you just don’t wish to choose what you really want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can happen the first of all you can work with a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are developed 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 bear in mind this platform is rather 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 don’t simply presume since i use 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 option as well so you really get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually said they have actually made revenue 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to 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 extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved really important you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 a few of the absolutely no charge websites then may not charge you for actually buying and selling etfs or funds individual products private stocks.
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there’ll be costs on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission charges are free however there are a number of other costs the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 in the future however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those choices that they have a great deal of platforms undoubtedly are 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 as soon as every 6 months you know depends completely how you’re investing however that is a charge to bear in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
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a great deal 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 fee now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize 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 offer me us dollars instead you have to pay their costs now the fantastic thing about however when you’ve transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great using that part of their website will not definitely limit you in any way however we have to understand 2 other charges the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that is part of the financial investment platform in between the buy price and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact indicates that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present price of tesla is the value of a share what’s called spread costs is the difference then really 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 whenever you do a buyer’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to provide 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 sell it and that is how they make a bit of cash on those spread out costs it’s normally incredibly 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 accomplishment is called an
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over night cost now this is really crucial if you’re actually using cfds yourself as well an over night cost is when you’re refraining from doing that buy offer deal in the same day all right there’s then an overnight charge charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which implies you’re really purchasing the precise possession rather than utilizing take advantage of anyway you will not get hit with these charges but these costs are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the help section this isn’t the overnight costs details you can see exactly the breakdown and it’ll tell 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 said to cfds there are some service charges of course depending upon what you are investing in as well this is on your own so keep that in mind however complete costs are completely within their aid info okay and we discussed along with 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 charge now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of really utilizing these copy functions they don’t have any extra charges on top of the normal fees that
exist now what you require to keep in mind though is these possibly managed by other people completely or often have created portfolios you’ve got a real person doing the management you need to make certain you choose the person that’s right for you much like any kind of work this is your financial assets so we definitely need 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 want to utilize this function we have actually 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 choice to invest real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash possibly this is a great option for you once again to test the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it undoubtedly you might have lost out on gains and losses throughout that time naturally if you had actually invested your real cash it permits you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i suggest by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i alright with potentially losing a great amount of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that similarly means they’ll lose at some point in their journey undoubtedly people do generate income too and i’ve got videos all about how you can make sure you are among individuals to actually earn money however in this scenario ensure you research your danger level would you be all right providing your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky don’t choose somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold or even 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 say you can really utilize this too really easily over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to really search for someone that you elegant actually following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has actually met that criteria and it does offer you a danger aspect too 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 people that have rather high returns
bear 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 might make 4 or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to validate are you alright with this and off you go now another method to actually deep dive if we click 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 quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is good 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 an excellent spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production business as that. Etoro Knowledge Assessment.
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