We get htis a lot on our site the answer to Harmony One Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t want to decide what you in fact want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the to start with you can employ an investment portfolio manager they’ll typically charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds specific 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 keep in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not simply presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you actually get utilized to the structure of the website and then 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 genuine companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they’ve made earnings 14 months in a row purchase these options since you think is the best 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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popular for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally whenever 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 is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real 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 zero cost websites then may not charge you for actually buying and selling etfs or funds individual commodities specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you in fact begin 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 start with fees really crucial to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling alright so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might 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 costs somewhere and withdrawal costs are just one of those alternatives 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 mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a fee to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two open market anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they in fact offering you in regards to 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 state offer me us dollars instead you have to pay their fees now the fantastic aspect of though when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 charges so that’s really great using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of two other charges the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is generally the distinction that is part of the financial investment platform between the buy rate and the price fine 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 value 599 per share in tesla that really implies that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me show you that once again so the current cost of tesla is the value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit from you each time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you say okay well why does that happen 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 little bit of cash on those spread fees it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last task is called an
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overnight fee now this is actually important if you’re really using cfds yourself as well an overnight fee is when you’re not doing that buy offer transaction in the very same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re actually purchasing the precise asset rather than using leverage anyway you will not get hit with these charges however these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you go into the assistance area this isn’t the over night fees information 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 overnight or you’re doing over weekends and that only applies as i stated to cfds there are some added fees of course depending upon what you are purchasing as well this is on your own so keep that in mind however complete charges are totally within their assistance information all right and we talked about along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of really utilizing these copy operates they don’t have any extra fees on top of the normal costs that
exist now what you require to remember though is these potentially managed by other individuals completely or often have actually produced portfolios you’ve got a genuine individual doing the management you have to make sure you pick the person that’s right for you just like any kind of work this is your financial properties so we definitely need to make certain it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various 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 means i believe 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 charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is an excellent option for you again to test the theories alright you might wish to purchase 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 of course if you had actually invested your real 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 in fact how to copy individuals and copy portfolios now here’s something to remember before you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i mean by that certainly 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 simply suggests am i all right with potentially losing a great quantity of this investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally means they’ll lose at some point in their journey undoubtedly individuals do make money too and i’ve got videos everything about how you can ensure you are among individuals to actually generate income but in this circumstance make certain you research study your risk level would you be alright providing your money to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous do not select someone who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might not want 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 use this too actually quickly over here you can copy people now it will provide you a lot of choices and you can use the system to actually look for somebody that you expensive actually following so let’s see possibly we desire somebody from united kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has fulfilled that criteria and it does provide you a danger factor also 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 individuals that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you alright with this and off you go now another way to in fact 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 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 great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i purchase too which is good so actually 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 appears to be what she prefers she’s likewise got a little bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production business as that. Harmony One Etoro.
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