We get htis a lot on our site the answer to How To Transfer From Etoro To Coinomi….Concerns that i speak with new investors what if you’re brand new to investing you just don’t wish to decide what you really wish to invest and you desire someone to do it for you there’s only a couple of ways that that can occur the first of all you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds specific funds are produced once 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 bear in mind this platform is quite 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 more about please do study the platform do not just assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you in fact get utilized 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 obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the right ones for you and that being said let’s dive directly in [Music] so the 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 aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially every 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 is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee websites then might not charge you for really buying and selling etfs or funds specific products private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really crucial to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can certainly put money in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish 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 five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 state offer me us dollars instead you need to pay their fees now the fantastic thing about though when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website will not certainly limit you in any way nevertheless we have to know two other charges the first being what’s called spread charges 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 basically the difference that is part of the investment platform in between the buy rate and the price all right 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 value 599 per share in tesla that in fact indicates that when you wish to purchase 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 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 find this everywhere this is another way that they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to give 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 distinction between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread fees it’s generally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last feat is called an
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overnight cost now this is actually important if you’re in fact utilizing cfds yourself also an over night fee is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an over night fee charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which means you’re in fact purchasing the specific property rather than utilizing utilize anyhow you will not get hit with these costs but these fees are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you enter into the assistance area this isn’t the over night 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 overnight or you’re doing over weekends which just applies as i stated to cfds there are some surcharges obviously depending upon what you are purchasing as well this is on your own so keep that in mind however full charges are completely within their aid information okay and we talked about as well as totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of in fact utilizing these copy functions they do not have any additional costs on top of the normal charges that
are there now what you need to bear in mind though is these possibly handled by other people completely or in some cases have developed portfolios you’ve got a genuine person doing the management you need to make certain you pick the person that’s right for you similar to any line of work this is your monetary possessions so we definitely require to ensure it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play 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 generally have this virtual portfolio simulate as if you are using your own money but in fact buy pretend buy copy individuals 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 once again to evaluate the theories okay you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to kind of safe have fun with it certainly you may have missed out on gains and losses throughout that time of course if you had invested your real money it allows you to develop confidence comprehend the platform so that’s one option for you then next week and i’m going to go back 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 remember before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i mean by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk just suggests am i fine with potentially losing a good quantity of this investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 people will lose money however that similarly implies they’ll lose at some point in their journey undoubtedly individuals do generate income as well and i have actually got videos everything about how you can ensure you are among the people to actually generate income however in this scenario make certain you research study your danger level would you be okay giving your money to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that dangerous do not select someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong commodities
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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 very same with who you’re following now as i say you can in fact utilize this too truly easily over here you can copy individuals now it will give you a great deal of options and you can utilize the system to actually look for somebody that you expensive actually following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has met that criteria and it does offer you a threat aspect also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no 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 verify are you alright with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great 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 in fact that i invest in too which is great so really for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s also got a bit more um of the type of primary food companies and you have actually got you understand pharmaceutical and production companies as that. How To Transfer From Etoro To Coinomi.
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