We get htis a lot on our site the answer to Liam Davies Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to choose what you in fact want to invest and you desire someone to do it for you there’s only a number of ways that that can happen the first off you can hire an investment portfolio supervisor they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously 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 also now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform do not just presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you really get utilized to the structure of the site and then when you’re ready to utilize your own money 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 business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row invest in these options because you believe is the right ones for you which being said 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 most likely.
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famous for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for example 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 costs involved truly critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost sites then might not charge you for really buying and selling etfs or funds individual commodities specific stocks.
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there’ll be fees on other parts maybe 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 understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s automatically 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 offer your commodities 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those options that they have a lot of platforms obviously are complimentary 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 when every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches 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 good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 rather you have to pay their charges now the great feature of though when you have actually transformed your cash 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 implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their website won’t certainly restrict you in any way nevertheless we have to know 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread fee as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform between the buy price and the price okay 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 actually implies that when you want to buy or sell as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present cost of tesla is the worth of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you say alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of cash on those spread out charges it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit cash now the last task is called an
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overnight charge now this is really crucial if you’re in fact utilizing cfds yourself too an overnight cost is when you’re not doing that buy sell transaction in the same day alright there’s then an over night charge charged or even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which indicates you’re actually purchasing the precise asset rather than using leverage anyhow you will not get hit with these costs however these charges are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the help area this isn’t the over night charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just uses as i stated to cfds there are some additional charges naturally depending on what you are purchasing too this is on your own so keep that in mind however complete fees are completely within their aid info fine and we talked about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of really using these copy works they do not have any additional costs on top of the typical charges that
exist now what you need to bear in mind though is these potentially managed by other people totally or sometimes have produced portfolios you’ve got a genuine individual doing the management you need to make sure you choose the person that’s right for you much like any line of work this is your financial possessions so we definitely require to ensure it’s the best individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual ways 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 credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a great alternative for you once again to check the theories okay you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it obviously you may have lost out on gains and losses during that time naturally if you had invested your real money it permits you to construct self-confidence comprehend the platform so that’s one option 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 individuals and copy portfolios now here’s something to remember before you pick somebody 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 indicate by that obviously 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 alright with possibly losing an excellent quantity of this investment or getting 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 however that similarly means they’ll lose eventually in their journey certainly individuals do make money also and i’ve got videos everything about how you can make sure you are among individuals to in fact make money but in this circumstance ensure you research your threat level would you be okay offering your cash to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact utilize this too actually easily over here you can copy people now it will give you a great deal of options and you can use the system to in fact search for somebody that you elegant actually following so let’s see maybe we desire somebody from joined kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has fulfilled that criteria and it does offer you a danger element as well 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 people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance 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 fine with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually purchasing 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 know ibm paypal yep she’s absolutely like sort 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 in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s likewise got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production companies as that. Liam Davies Etoro.
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