So to start the answer to Backtrader Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you just do not wish to choose what you in fact want to invest and you desire someone to do it for you there’s only a number of manner ins which that can happen the to start with you can employ a financial 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 particular 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 as well now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you in fact get used 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row purchase these options due to the fact that you think is the right ones for you and that 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’s part of social trading which is one element that is most likely.
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well-known for it’s the choice to see what other traders are doing amazing we do not 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 cash we can actually say i want to do exactly 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 cash will be imitated 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 cash in so we’re going to also cover is the charges included actually vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine 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 no fee websites then might not charge you for really buying and selling etfs or funds individual commodities specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 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 finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges really important to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission charges are complimentary however there are a number of other costs the first one is withdrawal fees so you can certainly 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 in the future but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure 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 costs someplace and withdrawal charges are just one of those choices 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 mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing but that is a cost to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that suits me.
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a lot 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 use anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they really providing 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 fees now the terrific aspect of however when you have actually transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their website won’t certainly limit you in any way however we need to understand 2 other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform in between the buy cost and the list price all right 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 actually means 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 rate of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that happen it simply 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 want to offer it and that is how they make a little bit of cash on those spread out costs it’s generally extremely small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit cash now the last accomplishment is called an
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overnight cost now this is truly essential if you’re actually utilizing cfds yourself also an overnight fee is when you’re not doing that buy offer transaction in the very same day fine there’s then an over night fee charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which indicates you’re really buying the exact property rather than using utilize anyhow you will not get hit with these costs however these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the assistance section this isn’t the overnight costs info you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some surcharges of course depending upon what you are buying as well this is on your own so keep that in mind but complete costs are completely within their aid information all right and we discussed along with complimentary to deposit in but 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 stated copy trading and copy portfolios are two different ways of really using these copy works they do not have any additional charges on top of the typical costs that
exist now what you need to bear in mind though is these potentially managed by other people completely or sometimes have created portfolios you’ve got a real individual doing the management you have to make sure you pick the person that’s right for you similar to any profession this is your financial properties so we definitely require to make sure it’s the right person 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 couple of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual ways i think 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 charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is an excellent alternative for you once again to evaluate the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it undoubtedly you may have missed out on gains and losses throughout that time of course if you had actually invested your real cash it allows you to build self-confidence understand the platform so that’s one option 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 people and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i suggest by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i all right with possibly losing a good quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose cash however that similarly indicates they’ll lose at some point in their journey clearly people do make money too and i’ve got videos everything about how you can make certain you are among the people to really generate income however in this scenario make sure you research study your risk level would you be okay offering your cash to another person which is effectively what you’re doing and trusting them make sure you understand what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t pick someone who’s completely into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact use this too actually easily over here you can copy individuals now it will provide you a lot of choices and you can use the system to really search for someone that you expensive actually following so let’s see possibly we want someone from joined kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has actually met that requirements and it does offer you a danger aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could 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 after that you understand ask you to validate are you okay with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can in fact 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 little bit so that’s great to know ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is excellent so actually for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Backtrader Etoro.
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