We get htis a lot on our site the answer to Etoro Vs Freetrade Fees….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not wish to choose what you actually wish to invest and you want somebody to do it for you there’s only a number of ways that that can occur the to start with you can work with an 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 buy mutual funds particular funds are created once 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 too now if you’re brand new to an overall please remember this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they have actually made profit 14 months in a row purchase these options because you think is the best ones for you which being said let’s dive directly in [Music] so the important 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 element that is most likely.
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popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be mimicked 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 also cover is the fees involved truly critical you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 no cost websites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 actually begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling alright so commission charges are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can obviously put cash in now if you’re 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 however when you wish to withdraw your money so you sell your shares you sell your products 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a charge to keep in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 give me us dollars rather you need to pay their charges now the fantastic feature of however when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great utilizing that part of their site won’t definitely limit you in any way however we need to understand two other fees the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is basically the distinction that becomes part of the investment platform between the buy cost and the sale price fine 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 suggests that when you wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more pricey 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 in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out costs it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last accomplishment is called an
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overnight charge now this is actually crucial if you’re in fact utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer deal in the same day alright there’s then an over night cost charged or even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which means you’re in fact purchasing the specific property instead of using take advantage of anyhow you won’t get hit with these fees but these costs are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you enter into the help area this isn’t the over night fees 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 and that only applies as i said to cfds there are some added fees obviously depending on what you are buying as well this is on your own so keep that in mind but complete costs are completely within their aid information alright and we discussed as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of in fact using these copy works they don’t have any extra charges on top of the typical fees that
are there now what you require to bear in mind though is these potentially managed by other individuals completely or in some cases have actually produced portfolios you have actually got a real individual doing the management you need to make certain you select the person that’s right for you similar to any type of work this is your financial assets so we definitely require to make sure 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 use this function we have actually got a couple of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is a terrific alternative for you once 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 kind of safe play with it certainly you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it permits you to construct confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you select someone 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 indicate 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 risk just indicates am i all right with potentially losing a great quantity of this investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that equally implies they’ll lose at some time in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can make sure you’re one of the people to in fact make money but in this situation make certain you research your threat level would you be okay offering your money to someone else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too really easily over here you can copy individuals now it will offer you a lot of options and you can utilize the system to actually search for someone that you elegant actually following so let’s see maybe we want somebody from unified kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually satisfied that requirements and it does offer you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety 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 could make 4 or minus 50 there’s no chance to ensure 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 validate are you fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually investing in 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 excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i buy too which is great so in fact for me knowing what i like to buy 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 bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production business as that. Etoro Vs Freetrade Fees.
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