So to start the answer to Cost Of Trading At Fidelity Investments Vs Etoro….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t wish to choose what you in fact want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can occur the first off you can employ a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 also now if you’re brand new to a total please keep in mind this platform is quite sophisticated you can do cfds which of course 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 learning more about please do study the platform don’t just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that option too so you in fact get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they’ve made profit 14 months in a row purchase these options because you believe is the ideal ones for you which 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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well-known for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies 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 crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine 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 charge websites then might not charge you for actually buying and selling etfs or funds specific commodities private 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 costs 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 suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs actually crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling all right so commission fees are totally free however there are a couple of other fees the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you offer your products 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 of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state all right 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 somewhere and withdrawal costs are just one of those choices that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion charge 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 buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing you in terms of 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 need to pay their charges now the excellent aspect of however 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 preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their site won’t certainly restrict you in any way however we need to understand 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is generally the difference that belongs to the investment platform in between the buy price and the sale price alright it’s their premium on doing both those 2 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 in fact implies that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing price of tesla is the worth of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state alright well why does that occur it just 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 and that is how they make a little bit of cash on those spread charges it’s typically incredibly 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 crucial if you’re really using cfds yourself also an overnight cost is when you’re refraining from doing that buy sell deal in the same day all right there’s then an over night cost charged or even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually purchasing the exact possession instead of using utilize anyway you won’t get hit with these charges but these fees are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you go into the assistance section this isn’t the over night charges details you can see precisely 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 uses as i said to cfds there are some added fees naturally depending upon what you are buying as well this is on your own so keep that in mind however complete fees are completely within their help details alright and we discussed along with complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of actually utilizing these copy operates they do not have any extra charges on top of the typical costs that
are there now what you need to remember though is these potentially handled by other people entirely or in some cases have actually created portfolios you have actually got a genuine person doing the management you need to ensure you choose the individual that’s right for you much like any kind of work this is your financial possessions so we definitely require to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of different choices for us to start with 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 methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is a great option for you again to evaluate the theories okay you might want to purchase tesla or apple or this etf why not utilize 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 of course if you had invested your real money it permits you to build 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 in fact 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 danger profile is now what do i mean by that obviously 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 suggests am i okay with possibly losing an excellent quantity of this financial investment or acquiring as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose cash however that similarly means they’ll lose eventually in their journey obviously individuals do earn money too and i have actually got videos all about how you can ensure you are among the people to really generate income but in this circumstance make sure you research study your threat level would you be fine providing your cash to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky don’t pick someone who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually use this too actually easily over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to really look for somebody that you elegant really following so let’s see perhaps we desire someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has actually met that criteria and it does provide you a danger factor 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 people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might 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 know ask you to confirm are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing so let’s go 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 definitely like type of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is good so really for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production companies as that. Cost Of Trading At Fidelity Investments Vs Etoro.
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