We get htis a lot on our site the answer to First Citizens Bank Etoro….Concerns that i speak with new investors what if you’re brand new to investing you just do not want to decide what you really want to invest and you want someone to do it for you there’s just a number of ways that that can happen the firstly you can work with an investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are created again with an account manager 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 a total please remember this platform is quite advanced you can do cfds which naturally cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t just assume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you in fact get used to the structure of the website and then when you’re ready to utilize 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 buying real companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row buy these options because you believe is the ideal ones for you and that being said let’s dive straight 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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well-known for it’s the alternative to see what other traders are doing unbelievable 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 means with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included actually important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost websites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you actually start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission costs are complimentary however there are a number of other fees the first one is withdrawal costs so you can clearly put money in now if you remain 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 in the future however when you want to withdraw your cash so you sell 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 five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state okay 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 somewhere and withdrawal fees are just among those choices that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that suits 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 using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever charge 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 fee exists what are they in fact offering 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 give me us dollars rather you have to pay their fees now the terrific aspect of however when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy 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 actually great using that part of their site won’t definitely restrict you in any way however we have to understand two other fees the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread fee as i’m going to show you
on is basically the distinction that belongs to the investment platform between the buy price and the list price alright 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 actually indicates that when you wish to offer or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you each time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say all right well why does that occur 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 want to sell it and that is how they make a little bit of cash on those spread out fees it’s typically exceptionally 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 little bit money now the last task is called an
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over night cost now this is truly important if you’re in fact using cfds yourself as well an overnight fee is when you’re not doing that buy offer deal in the exact same day alright there’s then an over night fee charged and even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which means you’re really purchasing the specific possession instead of using leverage anyway you won’t get hit with these fees but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you enter into the assistance area this isn’t the over night charges information you can see exactly the breakdown and it’ll inform 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 just applies as i stated to cfds there are some additional charges obviously depending on what you are investing in too this is on your own so keep that in mind but complete costs are completely within their help info all right and we spoke about along with totally free to deposit in but there’s a five 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’ve said copy trading and copy portfolios are two different methods of in fact using these copy works they don’t have any additional costs on top of the regular charges that
are there now what you need to remember though is these potentially managed by other individuals completely or often have actually developed portfolios you have actually got a real individual doing the management you have to ensure you pick the individual that’s right for you much like any kind of work this is your monetary possessions 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 have actually got a number of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is a great option for you once again to evaluate the theories alright you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe play with it clearly you may have lost out on gains and losses throughout that time obviously if you had invested your real cash it enables you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back 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 keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure 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 say the longer you’re leaving your investments the riskier you can be run the risk of simply means am i alright with potentially losing a good amount of this financial investment or getting 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 fact 75 individuals will lose money however that equally indicates they’ll lose eventually in their journey obviously individuals do generate income as well and i’ve got videos everything about how you can make sure you are among individuals to in fact make money but in this scenario ensure you research your threat level would you be fine giving your cash to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous don’t choose someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you might not desire 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 utilize this too really quickly over here you can copy people now it will offer you a great deal of choices and you can use the system to in fact look for somebody that you fancy really following so let’s see perhaps we desire somebody from unified kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually satisfied that requirements and it does offer you a danger factor too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way 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 all right with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact 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 good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine actually that i buy too which is good so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a little bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production companies as that. First Citizens Bank Etoro.
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