We get htis a lot on our site the answer to Trading Knowledge Assessment Etoro Answers….Questions that i hear from brand-new investors what if you’re brand new to investing you just do not want to choose what you in fact want to invest and you want somebody to do it for you there’s only a number of ways that that can happen the first off you can employ an investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are created 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 an overall please remember this platform is quite innovative you can do cfds which of course 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 don’t simply presume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you really get used to the structure of the site and after that 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 genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row purchase these options because 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 probably.
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popular for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really vital 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 purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then may not charge you for in fact buying and selling etfs or funds specific products specific stocks.
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there’ll be costs 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 know before you in fact start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission costs are free however there are a number of other fees the first one is withdrawal costs so you can clearly put money in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those alternatives that they have a great deal 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 perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option 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 purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 have to pay their fees now the great feature of however when you have actually transformed your money 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 indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their website will not definitely limit you in any way however we have to be aware of 2 other costs the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is essentially the difference that is part of the financial investment platform in between the buy rate and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact implies that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current cost of tesla is the value of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state all right well why does that happen 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 wish to offer it which is how they make a bit of cash on those spread out fees 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 once again make a little bit money now the last task is called an
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over night fee now this is actually crucial if you’re really using cfds yourself also an over night cost is when you’re not doing that buy sell deal in the very same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which means you’re really purchasing the specific possession instead of utilizing take advantage of anyway you won’t get hit with these charges but these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s state if you go into the assistance section this isn’t the over night fees information you can see exactly 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 only applies as i said to cfds there are some added fees of course depending on what you are buying also this is on your own so keep that in mind but full costs are completely within their aid info all right and we talked about along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of in fact using these copy functions they do not have any additional charges on top of the typical fees that
exist now what you need to remember though is these potentially handled by other individuals completely or sometimes have created portfolios you have actually got a real person doing the management you need to ensure you select the person that’s right for you similar to any type of work this is your monetary properties so we absolutely require to make certain it’s the ideal 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 alternatives for us to start with if you’re brand new to investing i wish 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 play with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a fantastic option for you again to check the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a way to sort of safe play with it clearly you may have missed out on gains and losses throughout that time naturally if you had invested your genuine money it permits you to develop self-confidence comprehend 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 remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i indicate by that certainly 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 simply implies am i alright with potentially losing a good quantity of this investment or getting as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money however that similarly means they’ll lose eventually in their journey certainly individuals do make money also and i have actually got videos all about how you can ensure you are among the people to actually generate income but in this circumstance ensure you research study your danger level would you be okay giving your cash to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky do not select somebody who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too truly easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to really search for somebody that you fancy in fact following so let’s see maybe we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has met that criteria and it does provide you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of individuals 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 could make four or minus 50 there’s no other way 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 okay with this and off you go now another method to in fact deep dive if we click 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 go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is great so actually for me understanding what i like to purchase my specific 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 also got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Trading Knowledge Assessment Etoro Answers.
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