We get htis a lot on our site the answer to Gdax Vs Etoro Pro….Concerns that i speak with new investors what if you’re brand new to investing you simply do not want to decide what you in fact want to invest and you want somebody to do it for you there’s just a couple of ways that that can occur the first off you can hire an investment portfolio supervisor they’ll typically charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are produced 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 an overall please keep in mind this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not simply assume 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 money they give that option too so you actually 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 of course your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the right ones for you which 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 belongs to social trading which is one aspect that is probably.
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popular for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their financial 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 charges involved really vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge sites then may not charge you for actually buying and selling funds or etfs specific products private stocks.
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there’ll be costs on other parts perhaps 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 know before you actually start purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really crucial to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission fees are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can certainly put cash 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 later however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you may state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they actually 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 provide me us dollars rather you have to pay their fees now the terrific thing about however when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their website won’t definitely restrict you in any way nevertheless we have to know 2 other fees the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform between the buy price and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that really implies 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 existing cost of tesla is the value of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you every time you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a little bit of cash on those spread out fees it’s usually exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit cash now the last feat is called an
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over night cost now this is truly important if you’re in fact using cfds yourself too an over night charge is when you’re not doing that buy offer transaction in the very 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 cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re actually purchasing the precise possession instead of utilizing utilize anyhow you won’t get hit with these costs but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you go into the help section this isn’t the overnight fees details you can see precisely 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 which just applies as i said to cfds there are some surcharges obviously depending on what you are buying too this is on your own so keep that in mind but full charges are completely within their aid information alright and we talked about as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of actually utilizing these copy works they don’t have any additional fees on top of the typical charges that
are there now what you require to keep in mind though is these possibly managed by other people entirely or in some cases have actually developed portfolios you’ve got a real person doing the management you have to make sure you select the individual that’s right for you just like any line of work this is your financial properties so we definitely require to ensure it’s the ideal 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 number of different choices 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 genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash possibly this is a terrific alternative for you again to test the theories okay you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe have fun with it obviously you might have lost out on gains and losses throughout that time naturally if you had invested your real money it permits you to build self-confidence comprehend the platform so that’s one choice 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 people and copy portfolios now here’s something to bear in mind before you choose 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 suggest by that undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just means am i okay with potentially losing an excellent quantity of this investment or getting as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose cash but that similarly indicates they’ll lose eventually in their journey undoubtedly individuals do generate income too and i have actually got videos everything about how you can make sure you are among the people to in fact make money however in this situation make certain you research study your danger level would you be all right offering your money to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re someone who isn’t wishing to be that risky do not pick someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong products
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like gold or perhaps 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 actually utilize this too really quickly over here you can copy people now it will offer you a lot of choices and you can use the system to in fact search for someone that you expensive really following so let’s see possibly we desire someone from unified kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has actually met that criteria and it does give you a threat element too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
bear in mind it’s like 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 guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you okay 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 actually deep dive into what is she really buying so let’s go 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 understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is good so actually for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Gdax Vs Etoro Pro.
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