So to start the answer to Coinstats Etoro….Questions that i hear from brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you in fact wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can occur the first of all you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific 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 bear in mind this platform is rather advanced you can do cfds which of course cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just 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 money they consider that option too so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually stated they have actually made profit 14 months in a row invest in these choices because you think is the ideal ones for you and that being said let’s dive directly in [Music] so the important 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 element that is probably.
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popular for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact state i want 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 cash will be imitated with it so that indicates if for instance 10 of their 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 fees involved really vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies 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 zero fee websites then might not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges actually essential to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees 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 immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state okay that’s rather 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 just one of those options that they have a great deal of platforms undoubtedly are complimentary 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 once every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving 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 provide me us dollars rather you have to pay their costs now the great feature of though when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site won’t definitely limit you in any way however we have to know 2 other charges the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is essentially the difference that belongs to the investment platform in between the buy cost 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 right now tesla’s dollar worth 599 per share in tesla that in fact suggests 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 current rate of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a little bit of money on those spread out costs it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit money now the last accomplishment is called an
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over night charge now this is really important if you’re really utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy offer deal in the very same day alright there’s then an overnight cost charged or even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one utilize which implies you’re in fact purchasing the specific property instead of utilizing leverage anyhow you won’t get hit with these costs but these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the help area this isn’t the overnight charges info you can see precisely 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 applies as i said to cfds there are some added fees naturally depending on what you are purchasing as well this is on your own so keep that in mind however complete costs are completely within their assistance info fine and we talked about as well as complimentary to deposit in however there’s a 5 dollar charge if you wish 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’ve stated copy trading and copy portfolios are 2 various ways of in fact using these copy operates they don’t have any additional costs on top of the normal costs that
exist now what you require to keep in mind though is these potentially managed by other individuals completely or often have actually created portfolios you’ve got a genuine person doing the management you need to ensure you pick the individual that’s right for you similar to any kind of work this is your monetary possessions 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 alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a terrific choice for you again to evaluate the theories all right you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe play with it certainly you may have missed out on gains and losses throughout that time obviously if you had actually invested your real money it allows you to construct confidence understand the platform so that’s one option 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 keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i indicate by that clearly 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 run the risk of simply indicates am i fine with potentially losing a great amount of this investment or gaining 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 fact 75 individuals will lose cash however that equally means they’ll lose eventually in their journey obviously people do make money too and i’ve got videos all about how you can make sure you are among individuals to really generate income but in this scenario make sure you research study your danger level would you be all right providing your money to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wishing to be that risky don’t select somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not want 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 utilize this too really easily over here you can copy individuals now it will provide you a great deal of choices and you can use the system to actually look for someone that you expensive actually following so let’s see possibly we want someone from joined kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has met that criteria and it does offer you a threat factor 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 variety of individuals that have rather high returns
remember 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 other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you fine with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s rather 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 industry she’s got some of mine in fact that i purchase too which is good so really for me knowing what i like to invest in my specific 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 kind of primary food companies and you have actually got you know pharmaceutical and production companies as that. Coinstats Etoro.
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