We get htis a lot on our site the answer to Etorox Fees….Concerns that i speak with new financiers what if you’re brand new to investing you simply don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s only a number of manner ins which that can occur the firstly you can work with an investment portfolio manager they’ll generally charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 innovative you can do cfds which naturally cfds are methods 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 because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row purchase these options because you think 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 aspect that is probably.
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well-known for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i want 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 simulated with it so that suggests if for instance 10 of their 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 involved really important you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee websites then may not charge you for actually buying and selling funds or etfs individual products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission costs are free however there are a number of other fees the first one is withdrawal charges 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 instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you sell 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 sure that i’m only withdrawing when i definitely require to now you might state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those options that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice 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 purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 need to pay their fees now the great aspect of however when you have actually transformed your money 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 indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their site won’t definitely restrict you in any way however we need to understand two other costs the first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy cost and the list price all right 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 in fact implies that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that once again so the present rate of tesla is the value of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in 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 fees it’s typically incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last feat is called an
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over night fee now this is truly important if you’re in fact using cfds yourself too an over night fee is when you’re not doing that buy offer deal in the same day fine there’s then an over night fee charged and even if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which indicates you’re actually purchasing the specific possession rather than using take advantage of anyway you won’t get hit with these charges but these fees are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you go into the assistance area this isn’t the over night fees info you can see exactly the breakdown and it’ll tell 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 just applies as i stated to cfds there are some service charges obviously depending on what you are purchasing too this is on your own so keep that in mind but complete fees are totally within their help info all right and we talked about in addition to free to deposit in but there’s a five 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really using these copy works they don’t have any extra costs on top of the normal costs that
exist now what you need to remember though is these potentially handled by other individuals completely or often have actually created portfolios you’ve got a genuine person doing the management you need to ensure you select the person that’s right for you just like any type of work this is your monetary possessions so we absolutely need to make certain it’s the right individual 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 various choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods 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 need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is an excellent alternative for you once again to test the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual option as a method to type of safe have fun with it obviously you might have lost out on gains and losses throughout that time naturally if you had actually invested your genuine cash it allows you to construct self-confidence comprehend 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 in fact how to copy individuals 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 understand what your danger profile is now what do i mean 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 run the risk of simply indicates am i alright with potentially losing an excellent amount of this financial investment or acquiring 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 people will lose money however that similarly suggests they’ll lose eventually in their journey undoubtedly individuals do earn money also and i’ve got videos all about how you can make sure you’re one of individuals to actually make money however in this scenario ensure you research your danger level would you be okay offering your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more conventional 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 utilize this too actually quickly over here you can copy individuals now it will offer you a lot of options and you can utilize the system to really look for somebody that you fancy in fact following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has fulfilled that requirements and it does offer you a danger aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly 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 mean somebody will make 56 for you for the next 12 months they might make 4 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 know ask you to validate are you all right with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually 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 little bit so that’s excellent to know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so actually for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production companies as that. Etorox Fees.
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