We get htis a lot on our site the answer to Sky Etoro….Concerns that i hear from new investors what if you’re brand new to investing you merely don’t want to choose what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can occur the firstly you can work with an investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are developed 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 of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you in fact get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they’ve made earnings 14 months in a row invest in these options since you think is the best ones for you and that being stated let’s dive directly in [Music] 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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well-known for it’s the choice to see what other traders are doing unbelievable 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 really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates 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 included truly important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost websites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
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there’ll be costs on other parts possibly 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 show you the charges with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs actually essential to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission fees are totally free however there are a number of other fees the very first one is withdrawal costs so you can obviously 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 offer your shares you sell 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state alright that’s rather costly 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 lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’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 buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really offering you in terms of 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 state offer me us dollars instead you have to pay their costs now the fantastic aspect of though when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great utilizing that part of their site won’t certainly limit you in any way however we need to be aware of two other fees the very first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform in between the buy price and the price okay it’s their premium on doing both those 2 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 actually suggests that when you wish to buy or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of profit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer 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 difference between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread charges 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 money now the last feat is called an
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over night cost now this is really important if you’re actually utilizing cfds yourself too an over night charge is when you’re not doing that buy sell deal in the exact same day okay there’s then an overnight charge 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 actually buying out the etf the stock the commodity and using time one take advantage of which implies you’re actually purchasing the exact possession instead of utilizing take advantage of anyway you will not get hit with these charges but these fees are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you enter into the help section this isn’t the overnight costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges 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 service charges of course depending on what you are purchasing too this is on your own so keep that in mind however full costs are completely within their aid details alright and we spoke about along with complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of in fact utilizing these copy operates they do not have any additional fees on top of the regular costs that
are there now what you need to keep in mind though is these potentially managed by other people entirely or sometimes have actually produced portfolios you’ve got a real person doing the management you have to ensure you pick the individual that’s right for you just like any kind of work this is your monetary assets so we definitely require to make sure it’s the best individual 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 first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money possibly this is a terrific alternative for you once again to check the theories fine you may want to buy tesla or apple or this etf why not use the virtual option as a method to kind of safe have fun with it obviously you might have lost out on gains and losses throughout that time obviously if you had invested your real money it allows you to build self-confidence comprehend the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to bear in mind before you select someone 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 indicate by that obviously 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 alright with possibly losing a great quantity of this financial investment or acquiring as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose money but that similarly suggests they’ll lose at some point in their journey undoubtedly individuals do make money too and i have actually got videos all about how you can ensure you’re one of the people to actually earn money however in this scenario make sure you research your risk level would you be okay providing your cash to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky don’t choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold and even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually utilize this too really quickly over here you can copy people now it will provide you a great deal of options and you can utilize the system to really search for somebody that you elegant really following so let’s see possibly we want someone from united kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has met that requirements and it does offer you a danger aspect 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’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 4 or minus 50 there’s no other way to guarantee 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 confirm are you alright with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she in fact buying 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 good to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine actually that i buy too which is great so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Sky Etoro.
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