We get htis a lot on our site the answer to Etoro Vs Coinbase Vs Kraken….Questions that i hear from new investors what if you’re brand new to investing you merely do not want to choose what you actually wish to invest and you desire someone to do it for you there’s just a number of ways that that can occur the firstly you can work with a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular 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 also now if you’re brand new to an overall please bear in mind this platform is rather advanced 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 about please do study the platform do not simply assume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row purchase these options due to the fact that you believe 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 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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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 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 costs included actually critical you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business 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 fee sites then might not charge you for in fact buying and selling etfs or funds specific products specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 understand before you really begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of 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 number of costs there isn’t fees to do with really buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal fees 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 on however when you wish to withdraw your money so you offer your shares you sell your products 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say all right that’s rather 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 charges are just one of those choices that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great 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 and even 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 utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact providing you in terms of 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 instead you need to pay their costs now the fantastic aspect of though when you have actually transformed your cash you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 fees so that’s really great using that part of their website won’t certainly limit you in any way nevertheless we have to know two other costs the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is generally the difference that becomes 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 site today tesla’s dollar value 599 per share in tesla that really means that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing rate of tesla is the worth of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind clearly 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 alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of cash on those spread out fees it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last task is called an
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over night cost now this is truly essential if you’re in fact using cfds yourself too an over night charge is when you’re refraining from doing that buy offer transaction in the same day all right there’s then an over night cost charged and even if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which suggests you’re actually buying the specific asset rather than using leverage anyway you will not get hit with these costs however these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you enter into the assistance area this isn’t the over night charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some service charges obviously depending on what you are purchasing also this is on your own so keep that in mind however complete charges are totally within their help info okay and we spoke about in addition to totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact using these copy works they don’t have any extra fees on top of the typical fees that
are there now what you need to keep in mind though is these potentially managed by other individuals totally or often have developed portfolios you have actually got a genuine individual doing the management you need to make certain you select the person that’s right for you similar to any line of work this is your financial properties so we definitely require to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of different options 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 real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash 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 actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money maybe this is a terrific alternative for you again to evaluate the theories fine you might wish to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe have fun with it certainly you might have lost out on gains and losses throughout that time naturally if you had invested your real money it allows you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i imply by that clearly 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 run the risk of just implies am i all right with potentially losing an excellent amount of this investment or acquiring as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash but that equally implies they’ll lose at some point in their journey obviously individuals do earn money too and i have actually got videos everything about how you can ensure you are among individuals to really make money but in this circumstance make sure you research study your danger level would you be alright giving your money to somebody else which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re someone who isn’t wanting to be that dangerous don’t pick somebody who’s entirely into crypto or currency conversion think about 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 want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually use this too really easily over here you can copy individuals now it will give you a lot of options and you can use the system to really search for someone that you elegant really following so let’s see maybe we want someone from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everyone who has fulfilled that requirements and it does provide you a danger factor too 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 people that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to validate are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got some of mine actually that i purchase too which is great 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 a great spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production companies as that. Etoro Vs Coinbase Vs Kraken.
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