We get htis a lot on our site the answer to Exodus Vs Etoro Wallet….Questions that i hear from new financiers what if you’re brand new to investing you just don’t want to choose what you in fact wish to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the first of all you can employ a financial investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your earnings 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 a total please bear in mind this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you actually get used to the structure of the website and after that when you’re ready to use your own cash 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 choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has said they have actually made profit 14 months in a row purchase these options because you think is the ideal ones for you and that being stated let’s dive straight 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 most likely.
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well-known for it’s the option 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 and so that indicates with our cash we can really state 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 money will be imitated with it so that indicates if for example 10 of their financial investment portfolio remains 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 truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero charge websites then might not charge you for actually buying and selling funds or etfs private products individual 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 sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling okay so commission costs are totally free however there are a couple of other costs the first one is withdrawal charges so you can obviously put cash 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 in the future however when you wish to withdraw your cash 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 certain that i’m only withdrawing when i absolutely require 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 costs are simply one of those alternatives that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve touched upon 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 fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact 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 give me us dollars instead you need to pay their fees now the great feature of however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 charges so that’s actually good utilizing that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is basically the distinction that belongs to the financial investment platform in between the buy price 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 today tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present price of tesla is the worth of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to offer 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 lot of platforms out there there’s a difference between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread out charges it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit cash now the last feat is called an
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over night cost now this is really crucial if you’re in fact using cfds yourself as well an over night charge is when you’re not doing that buy sell transaction in the same day fine there’s then an overnight cost charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which implies you’re in fact purchasing the specific asset instead of utilizing utilize anyway you will not get hit with these charges however these costs 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 aid 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 charges then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some surcharges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete costs are entirely within their help details all right and we talked about in addition to totally free to deposit in but there’s a 5 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 2 different ways of in fact utilizing these copy works they don’t have any additional fees on top of the regular costs that
exist now what you need to bear in mind though is these potentially managed by other people totally or often have developed portfolios you have actually got a real individual doing the management you have to ensure you select the person that’s right for you similar to any type of work this is your financial assets so we definitely need to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of different alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money perhaps this is a terrific choice for you again to test the theories fine you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it undoubtedly you might have missed out on gains and losses throughout that time obviously if you had actually invested your real money it enables you to develop 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 actually how to copy individuals and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i suggest by that certainly 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 just implies am i fine with potentially losing an excellent quantity of this investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose money but that equally suggests they’ll lose at some time in their journey undoubtedly individuals do generate income too and i’ve got videos all about how you can make sure you are among the people to in fact earn money but in this scenario make sure you research your risk level would you be okay offering your money to another person which is efficiently what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to actually look for somebody that you elegant in fact following so let’s see possibly we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has met that criteria and it does provide you a threat aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you fine 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 actually deep dive into what is she in fact buying so let’s go 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 know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine really that i purchase too which is good so actually for me understanding what i like to invest in 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 prefers she’s likewise got a bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production business as that. Exodus Vs Etoro Wallet.
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