We get htis a lot on our site the answer to Tom Heath Etoro….Concerns that i hear from new financiers what if you’re brand new to investing you simply don’t wish to choose what you in fact wish to invest and you desire someone to do it for you there’s only a number of ways that that can take place the to start with you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are created 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 an overall please keep in mind this platform is rather innovative 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 finding out about please do study the platform do not just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you really get utilized to the structure of the website 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 risk this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row purchase these choices because you believe is the ideal ones for you and that being stated let’s dive straight 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 probably.
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popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests 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 likewise cover is the charges included actually critical you understand what are the costs of this now with any platform there will be some expense 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 a few of the no cost sites then may not charge you for really buying and selling funds or etfs specific products individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling okay so commission costs are complimentary nevertheless there are a number of other fees the first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 on however when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those options that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists 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 state give me us dollars instead you need to pay their fees now the excellent feature of though when you’ve converted your cash you do not have 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 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 additional charges so that’s really excellent utilizing that part of their website will not definitely restrict you in any way however we have to know 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that belongs to the financial investment platform in between the buy rate and the list 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 value 599 per share in tesla that in fact indicates that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing rate of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in 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 costs it’s usually exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last task is called an
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overnight fee now this is truly important if you’re actually using cfds yourself as well an over night cost is when you’re refraining from doing that buy offer transaction in the same day all right there’s then an over night fee charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which indicates you’re in fact purchasing the precise property rather than using utilize anyway you will not get hit with these charges however these charges are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the assistance area this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs 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 added fees naturally depending upon what you are buying too this is on your own so keep that in mind however complete charges are entirely within their assistance info fine and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact using these copy works they do not have any extra costs on top of the normal fees that
are there now what you require to remember though is these possibly handled by other individuals totally or often have actually developed portfolios you’ve got a real individual doing the management you need to make sure you select the person that’s right for you just like any kind of work this is your financial possessions so we definitely need to ensure it’s the right 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 couple 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 option to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are using your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash perhaps this is a great alternative for you again to check the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it obviously you may have missed out on gains and losses during that time naturally if you had actually invested your real money it allows you to build self-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 actually how to copy people and copy portfolios now here’s something to bear in mind prior to you pick someone 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 suggest 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 simply means am i okay with possibly losing an excellent quantity of this financial investment or getting as
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well now remember everything is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose cash but that similarly means they’ll lose at some time in their journey obviously individuals do make money too and i have actually got videos all about how you can make sure you are among individuals to really make money but in this scenario make sure you research your risk level would you be alright giving your cash to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re someone who isn’t wishing to be that dangerous don’t select someone who’s totally 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 conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy people now it will offer you a great deal of options and you can utilize the system to really look for someone that you expensive actually following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has met that requirements and it does offer you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance 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 validate are you alright with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is excellent so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production business as that. Tom Heath Etoro.
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