We get htis a lot on our site the answer to Etoro Vs Acorns….Questions that i hear from brand-new financiers what if you’re brand new to investing you merely don’t wish to choose what you really wish to invest and you desire someone to do it for you there’s only a number of manner ins which that can take place the firstly you can work with an investment portfolio supervisor they’ll typically charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are created again with an account supervisor 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 an overall please bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something since that individual has stated they’ve made revenue 14 months in a row invest in these choices since you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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popular for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means if for example 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 costs involved actually crucial you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then might not charge you for actually buying and selling funds or etfs individual products private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 understand before you really start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really crucial to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling fine so commission costs are complimentary however there are a number of other costs the first one is withdrawal fees so you can undoubtedly put cash 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 however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a charge to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact 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 give me us dollars rather you need to pay their fees now the fantastic aspect of though when you have actually converted your money you do not have to invest it right now that dollar worth 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 occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is essentially the difference that becomes part of the financial investment platform in between the buy rate and the price fine 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 value 599 per share in tesla that in fact suggests that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the worth of a share what’s called spread costs is the distinction then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference 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 charges it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit money now the last accomplishment is called an
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over night charge now this is actually essential if you’re really using cfds yourself also an over night charge is when you’re not doing that buy sell deal in the exact same day okay there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which means you’re really buying the specific possession rather than utilizing leverage anyway you won’t get hit with these costs however these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you go into the assistance section this isn’t the over night costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night 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 as well this is on your own so keep that in mind however complete charges are totally within their assistance info all right and we spoke about in addition to complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of actually utilizing these copy operates they do not have any additional costs on top of the typical charges that
are there now what you need to keep in mind though is these potentially managed by other people entirely or in some cases have actually created portfolios you’ve got a real person doing the management you have to make sure you pick the person that’s right for you much like any profession this is your financial properties so we absolutely require to ensure it’s the best person 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 options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is a great choice for you again to test the theories fine you might want to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe have fun with it undoubtedly you may have lost out on gains and losses during that time obviously if you had invested your real money it enables you to construct 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 people and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i indicate by that obviously 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 implies am i fine with potentially losing a good quantity of this financial investment or gaining 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 people will lose money however that equally indicates they’ll lose at some point in their journey undoubtedly individuals do earn money as well and i have actually got videos everything about how you can ensure you are among the people to in fact generate income but in this scenario make sure you research study your danger level would you be okay providing your cash to another person which is successfully what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re someone who isn’t wanting to be that risky do not pick somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold or even 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 say you can really use this too actually easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to really look for somebody that you elegant really following so let’s see possibly we want someone from joined kingdom um who invests in let’s see who does etfs they’ve acquired 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 provide you a threat aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 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 verify are you fine with this and off you go now another way 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 purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is great so in fact for me knowing what i like to purchase my private 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 also got a little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Vs Acorns.
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