We get htis a lot on our site the answer to Etoro New York….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you really wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can occur the firstly you can employ an investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are developed 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 as well now if you’re brand new to a total please bear in mind this platform is rather 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 finding out about please do study the platform do not simply presume due to the fact that 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 money they consider that choice too so you in fact get utilized 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 naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row invest in these options because you think is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really state i wish to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates 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 actually vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs private commodities private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 actually begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges actually essential to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission charges are complimentary nevertheless there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly 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 on but when you wish to withdraw your money so you sell your shares you offer 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’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 buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they really providing 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 offer me us dollars instead you have to pay their fees now the terrific feature of though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their site won’t certainly limit you in any way nevertheless we need to be aware of two other costs the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform between the buy price and the price fine 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 worth 599 per share in tesla that actually implies that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread costs is the difference then in fact 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 every time you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you say alright 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 want to sell it and that is how they make a bit of cash on those spread costs it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit money now the last feat is called an
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over night cost now this is truly important if you’re in fact using cfds yourself also an overnight fee is when you’re refraining from doing that buy sell transaction in the exact same day alright there’s then an overnight cost charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re actually buying the precise possession instead of using utilize anyhow you will not get hit with these charges but these fees are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you go into the help section this isn’t the over night costs details you can see precisely the breakdown and it’ll tell 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 added fees naturally depending upon what you are buying too this is on your own so keep that in mind but complete charges are entirely within their assistance info okay 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 normal product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of in fact using these copy functions they don’t have any additional costs on top of the normal fees that
are there now what you need to keep in mind though is these possibly handled by other individuals completely or in some cases have actually developed portfolios you’ve got a genuine person doing the management you have to ensure you choose the person that’s right for you much like any type of work this is your financial possessions 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’ve got a number of different alternatives 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 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 need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money perhaps this is an excellent option for you again to evaluate the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe have fun with it clearly you may have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to develop confidence understand the platform so that’s one choice 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 people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i suggest 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 just means am i fine with possibly losing an excellent quantity of this investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally suggests they’ll lose at some time in their journey undoubtedly individuals do earn money as well and i’ve got videos all about how you can ensure you are among the people to in fact earn money but in this circumstance make certain you research your risk level would you be alright giving your money to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re someone who isn’t wanting to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might 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 use this too really quickly over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to really search for someone that you elegant actually following so let’s see maybe we want somebody from unified kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has satisfied that requirements and it does offer you a risk element as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear 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 could 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 after that you understand ask you to validate are you all right with this and off you go now another way to actually deep dive if we click this person for instance 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 bit so that’s great to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is excellent so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production business as that. Etoro New York.
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