We get htis a lot on our site the answer to Moneylion Vs 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 in fact wish to invest and you desire someone to do it for you there’s just a number of ways that that can take place the first of all you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 too now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which of course cfds are methods 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 don’t simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you actually get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial 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 stated they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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well-known for it’s the alternative to see what other traders are doing extraordinary we do not usually 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 really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for instance 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 costs included actually crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee sites then might not charge you for in fact buying and selling etfs or funds private products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 prior to you actually begin investing in copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with charges truly important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission charges are totally free however there are a couple of other charges the first one is withdrawal costs so you can certainly put money in now if you remain 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 on but when you wish to withdraw your money so you offer your shares you offer your products 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 ensure that i’m only withdrawing when i definitely require to now you may say okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a cost to keep in mind the second charge that i’ve discussed is that conversion charge 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 good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 give me us dollars rather you need to pay their charges now the great feature of however when you’ve transformed your money you do not need to invest it right away that dollar worth can sit 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 happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great utilizing that part of their website won’t definitely limit you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform between the buy price and the sale price fine 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 worth 599 per share in tesla that in fact means that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the present cost of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that occur it simply does that is the nature of a great deal 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 little bit of money on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit cash now the last accomplishment is called an
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overnight cost now this is really crucial if you’re really using cfds yourself too an overnight cost is when you’re refraining from doing that buy sell transaction in the exact same day alright there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which indicates you’re really buying the exact possession instead of using utilize anyhow you won’t get hit with these charges however these fees are if you’re utilizing take advantage of 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 say if you enter into the help area this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform 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 uses as i stated to cfds there are some service charges of course depending on what you are buying also this is on your own so keep that in mind however complete charges are entirely within their aid details okay and we spoke about along with free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of in fact using these copy operates they do not have any additional fees on top of the typical fees that
exist now what you require to remember though is these possibly managed by other individuals totally or often have produced portfolios you have actually got a real individual doing the management you have to make certain you choose the individual that’s right for you similar to any type of work this is your financial assets so we definitely need to make certain it’s the right person 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 options for us first off 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 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 require to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are using your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a great option for you once again to test the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe have fun with it certainly you may have missed out on gains and losses throughout that time obviously if you had actually invested your genuine cash it enables you to build self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i imply 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 run the risk of just implies am i okay with potentially losing an excellent amount of this investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash but that equally suggests they’ll lose at some point in their journey clearly people do earn money as well and i’ve got videos all about how you can ensure you are among individuals to really make money however in this circumstance make certain you research your risk level would you be okay providing your money to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can actually use this too truly quickly over here you can copy people now it will give you a lot of options and you can utilize the system to in fact look for somebody that you fancy actually following so let’s see possibly we desire someone from unified kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has actually fulfilled that requirements and it does offer you a risk factor 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 number of people that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she actually 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 bit so that’s good to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is excellent so really for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems 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 understand pharmaceutical and production companies as that. Moneylion Vs Etoro.
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