So to start the answer to Asic Knowledge Assessment Questionnaire Answers Etoro….Questions that i speak with new investors what if you’re brand new to investing you merely do not wish to decide what you in fact wish to invest and you desire somebody to do it for you there’s only a number of ways that that can happen the first of all you can employ an investment portfolio manager they’ll normally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific 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 an overall please remember this platform is quite innovative you can do cfds which obviously 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 discovering please do study the platform do not simply presume 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 cash they give that alternative too so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has stated they have actually made revenue 14 months in a row purchase these choices because you think is the right ones for you and that being said 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 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 therefore that means with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for example 10 of their financial investment portfolio is 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 clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for really buying and selling funds or etfs 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 kinds of fees 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 before you actually begin investing in copy trading or copy portfolios and finally some finest suggestions 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 fees actually essential to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly 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 later on however when you wish to withdraw your cash so you sell your shares you sell your commodities 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 ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply among those choices that they have a great deal of platforms certainly are complimentary 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 understand depends entirely how you’re investing however that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even 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 using trading 2 and two free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 say give me us dollars instead you need to pay their costs now the fantastic thing about however when you’ve transformed your money 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 implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their website will not certainly restrict you in any way however we need to be aware of two other fees the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform between the buy cost and the sale price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that actually implies that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind clearly 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 okay well why does that happen 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 offer it which is how they make a bit of money on those spread out costs it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit money now the last task is called an
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overnight charge now this is really crucial if you’re actually utilizing cfds yourself also an over night charge is when you’re refraining from doing that buy offer deal in the same day okay there’s then an over night fee charged or perhaps if you go from the friday to the monday before sailing 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 suggests you’re actually buying the exact property instead of utilizing take advantage of anyhow you won’t get hit with these costs but these charges are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you go into the aid area this isn’t the overnight costs info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs 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 naturally depending on what you are buying also this is on your own so keep that in mind however full charges are totally within their assistance details fine and we talked about in addition to complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of really utilizing these copy functions they do not have any extra fees on top of the normal charges that
are there now what you require to bear in mind though is these potentially handled by other people entirely or sometimes have developed portfolios you have actually got a genuine individual doing the management you have to make certain you select the individual that’s right for you much like any type of work this is your monetary properties so we definitely need to make sure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of different 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 real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash possibly this is a fantastic alternative for you again to check the theories okay you may want to purchase tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it certainly you may have lost out on gains and losses throughout that time naturally if you had invested your real money it permits you to build self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i imply by that undoubtedly 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 indicates am i fine with possibly losing a great amount of this investment or acquiring 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 but that similarly suggests they’ll lose at some time in their journey obviously people do earn money as well and i’ve got videos everything about how you can make certain you’re one of the people to actually earn money but in this scenario make sure you research study your threat level would you be alright offering your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous do not select somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more conventional 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 really use this too truly quickly over here you can copy people now it will provide you a lot of choices and you can utilize the system to in fact look for someone that you expensive in fact following so let’s see perhaps we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everyone who has fulfilled that requirements and it does give you a danger element as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to validate are you alright 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 actually deep dive into what is she in fact purchasing so let’s enter 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 know ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine really that i invest in 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 good spread in tech business that seems to be what she prefers she’s also got a bit more um of the type of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Asic Knowledge Assessment Questionnaire Answers Etoro.
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