We get htis a lot on our site the answer to Iris Chan Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you merely do not want to decide what you actually wish to invest and you want somebody to do it for you there’s only a number of ways that that can occur the firstly you can work with an investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are produced 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 also now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which obviously 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 finding out about please do study the platform don’t just presume since i utilize it that you can utilize 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 really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something because that individual has said they have actually made earnings 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that being stated let’s dive directly in [Music] 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 probably.
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popular for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved truly critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 absolutely no fee websites then might not charge you for really buying and selling funds or etfs individual commodities private stocks.
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there’ll be fees on other parts possibly 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 reveal you the fees with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some best recommendations 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 charges actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a number of other charges the very first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
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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 want to withdraw your money 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 five dollars per withdrawal so for me of course 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 pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a cost to keep in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact providing 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 offer me us dollars rather you need to pay their fees now the terrific feature of though when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent using that part of their website won’t certainly restrict you in any way however we have to understand 2 other charges the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is generally the distinction that is part of the investment platform in between the buy price and the list price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually means that when you wish to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the present price of tesla is the value of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to provide 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 great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a bit of cash on those spread fees it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last feat is called an
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over night charge now this is truly crucial if you’re really utilizing cfds yourself as well an over night cost is when you’re not doing that buy offer transaction in the same day alright there’s then an over night fee charged and 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 in fact buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re really buying the specific property rather than using utilize anyhow you won’t get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the help area 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 overnight or you’re doing over weekends and that just uses as i said to cfds there are some additional charges obviously depending upon what you are buying also this is on your own so keep that in mind however complete charges are completely within their help info alright and we talked about as well as totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of actually using these copy functions they do not have any extra charges on top of the normal fees that
exist now what you require to keep in mind though is these possibly handled by other people completely or sometimes have developed portfolios you have actually got a real individual doing the management you have to ensure you choose the person that’s right for you just like any kind of work this is your financial properties so we absolutely need to make sure it’s the right 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 couple of different choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing 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 perhaps this is a great choice for you again to evaluate the theories fine you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe have fun with it certainly you might have missed out on gains and losses throughout that time of course if you had actually invested your real cash it permits you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk 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 simply suggests am i fine with possibly losing a good quantity of this financial investment or gaining 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 money however that equally means they’ll lose eventually in their journey obviously people do earn money too and i have actually got videos everything about how you can ensure you’re one of the people to actually earn money but in this circumstance ensure you research your danger level would you be okay offering your cash to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that risky do not select somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation 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 very same with who you’re following now as i state you can actually use this too truly quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to actually look for somebody that you elegant in fact following so let’s see maybe we want somebody from united kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has met that criteria and it does give you a threat aspect also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals 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 imply someone will make 56 for you for the next 12 months they might make 4 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 after that you understand ask you to validate are you okay 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 really investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is excellent so actually for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a good 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 business and you’ve got you know pharmaceutical and production business as that. Iris Chan Etoro.
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