We get htis a lot on our site the answer to Is Etoro Spic….Concerns that i hear from brand-new investors what if you’re brand new to investing you just do not wish to choose what you actually want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the to start with you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular 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 too now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually 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 of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row purchase these choices because you believe is the right ones for you and that 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 most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 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 involved really critical you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business 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 absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds individual products private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 understand prior to you actually begin purchasing 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 investor so let’s begin with fees really important to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission fees are free nevertheless there are a couple of other costs the first one is withdrawal costs 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 later on but when you want to withdraw your cash so you offer your shares you sell your products 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 open market anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there 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 say give me us dollars instead you have to pay their costs now the fantastic thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their website will not certainly limit you in any way however we have to be aware of two other charges the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is basically the difference that belongs to the investment platform in between the buy cost 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 website right now tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say okay 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 sell it and that is how they make a bit of cash on those spread out fees it’s normally incredibly 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 cash now the last accomplishment is called an
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over night cost now this is truly crucial if you’re really using cfds yourself too an overnight fee is when you’re not doing that buy sell deal in the same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which means you’re in fact buying the precise asset rather than utilizing leverage anyhow you will not get hit with these costs however 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 offering in the same day so let’s say if you go into the aid section this isn’t the over night costs details you can see precisely 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 said to cfds there are some additional charges obviously depending on what you are buying too this is on your own so keep that in mind but complete fees are totally within their aid details fine and we talked about as well as free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of in fact utilizing these copy works they do not have any extra fees on top of the typical fees that
are there now what you need to remember though is these potentially managed by other people totally or sometimes have developed portfolios you have actually got a genuine person doing the management you have to ensure you pick the individual that’s right for you just like any line of work this is your financial possessions so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various 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 cash or a virtual platform virtual methods i believe 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 charge card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a fantastic choice for you again to evaluate the theories all right you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe have fun with it certainly you may have lost out on gains and losses throughout that time of course if you had invested your real cash it enables you to build confidence understand 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 really how to copy people and copy portfolios now here’s something to bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i mean by that clearly 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 run the risk of just suggests am i fine with potentially losing a great quantity of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose money but that equally indicates 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’re one of the people to actually make money however in this circumstance make certain you research study your danger level would you be fine giving your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re buying fully if you’re someone who isn’t wishing to be that dangerous do not pick someone who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too truly quickly over here you can copy people now it will provide you a lot of options and you can use the system to in fact look for somebody that you expensive in fact following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually fulfilled that requirements and it does provide you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure 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 all right 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 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 excellent to understand 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 great so in fact 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 business that seems to be what she prefers she’s also got a little bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. Is Etoro Spic.
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