We get htis a lot on our site the answer to Etoro Millionaire….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not want to decide what you actually want to invest and you desire someone to do it for you there’s just a couple of manner ins which that can happen the first of all you can work with a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are created 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 an overall please keep in mind this platform is quite sophisticated you can do cfds which of course cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since 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 money they consider that option also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has said they’ve made earnings 14 months in a row buy these choices due to the fact that 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’s part of social trading which is one aspect that is probably.
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popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates 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 likewise cover is the fees involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee sites then may not charge you for really buying and selling funds or etfs specific commodities private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges actually crucial to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission charges are totally free nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly put money 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 offer your commodities whatever you’re selling 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 understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever charge 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 exists what are they actually offering 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 provide me us dollars instead you need to pay their charges now the terrific aspect of however when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent using that part of their website will not definitely restrict you in any way nevertheless we have to be aware of two other costs the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is basically the difference that belongs to the investment platform between the buy rate and the list price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually implies that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to provide 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 between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread charges it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit cash now the last feat is called an
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overnight charge now this is truly essential if you’re really utilizing cfds yourself too an over night fee is when you’re not doing that buy offer deal in the same day okay there’s then an overnight charge charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re really buying the precise asset rather than utilizing leverage anyway you will not get hit with these charges however these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the help section this isn’t the overnight charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some surcharges of course depending on what you are buying too this is on your own so keep that in mind but full fees are entirely within their help information okay and we spoke about as well as free to deposit in but there’s a 5 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 cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of actually utilizing these copy functions they do not have any additional costs on top of the typical fees that
are there now what you require to bear in mind though is these potentially handled by other individuals completely or sometimes have actually developed portfolios you’ve got a genuine person doing the management you need to make certain you choose the individual that’s right for you similar to any type of work this is your financial assets so we definitely require to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods 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 need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is an excellent choice for you again to test the theories fine you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe play with it clearly you might have missed out on gains and losses throughout that time obviously if you had invested your real money it enables you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to go back 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 bear in mind before you select 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 financial investments the riskier you can be risk simply indicates am i alright with possibly losing a good quantity of this financial investment or getting as
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well now remember 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 but that equally implies they’ll lose at some time in their journey certainly people do generate income also and i’ve got videos everything about how you can make sure you are among individuals to in fact make money however in this circumstance make certain you research study your threat level would you be fine giving your cash to another person which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re someone who isn’t wishing to be that risky do not choose somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong products
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like gold or perhaps oil plus more standard 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 state you can in fact use this too actually easily over here you can copy individuals now it will offer you a great deal of choices and you can utilize the system to actually search for someone that you elegant really following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has fulfilled that requirements and it does provide you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure 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 way to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is great so really for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. Etoro Millionaire.
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