So to start the answer to Does Etrade Use Fifo….Concerns that i speak with new investors what if you’re brand new to investing you just don’t want to choose what you really wish to invest and you want somebody to do it for you there’s just a number of manner ins which that can take place the first off you can hire an investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds specific 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 also now if you’re brand new to a total please keep in mind this platform is quite sophisticated 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 finding out about please do study the platform do not just assume because 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 consider that option also so you really get used 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 of course your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger 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 options due to the fact that you think is the right ones for you which being said let’s dive straight in [Music] 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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popular for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included actually vital you understand what are the expenses of this now with any platform there will be some cost to obviously 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 some of the absolutely no cost sites then may not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with charges truly essential to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary however there are a number of other costs the first one is withdrawal costs so you can clearly put money 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 money 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 make sure that i’m just withdrawing when i definitely require to now you might say all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends entirely how you’re investing but that is a charge to remember the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative 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 purchasing or perhaps some crypto so i’m excellent 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 2 free trade anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really offering 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 rather you have to pay their costs now the terrific aspect of 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 money 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 occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their website will not definitely limit you in any way however we have to know two other costs the first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the investment platform in between the buy rate 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 right now tesla’s dollar value 599 per share in tesla that really means that when you wish to sell or buy as you can see it’s not the rate you’re seeing up here let me show you that once again so the present cost of tesla is the worth of a share what’s called spread fees is the distinction then really 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 every time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say fine well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread charges it’s normally exceptionally small it could be a matter of pens matter of cents in there however 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 fee now this is truly essential if you’re in fact using cfds yourself as well an over night fee is when you’re refraining from doing that buy offer transaction in the very same day all right there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend cost 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 in fact buying the specific asset rather than using utilize anyway you won’t get hit with these costs however these costs 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 assistance section this isn’t the over night charges info 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 just uses as i said to cfds there are some additional charges of course depending upon what you are investing in too this is on your own so keep that in mind but complete fees are entirely within their assistance details okay and we spoke about as well as complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of really utilizing these copy operates they don’t have any extra charges on top of the regular fees that
exist now what you need to remember though is these potentially handled by other individuals completely or in some cases have developed portfolios you’ve got a real individual doing the management you have to make certain you pick the individual that’s right for you much like any type of work this is your financial properties so we absolutely need to make sure it’s the right individual 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 couple of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your credit card details or anything you can generally have this virtual portfolio imitate 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 possibly this is a great choice for you once again to check the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it certainly you may have missed out on gains and losses throughout that time of course if you had actually invested your real money it permits you to develop self-confidence understand the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to bear in mind before you select someone 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 indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just means am i alright with possibly losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that equally suggests they’ll lose eventually in their journey obviously individuals do generate income also and i have actually got videos all about how you can make sure you’re one of individuals to actually earn money but in this situation make certain you research your danger level would you be alright offering your money to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold and even oil plus more conventional 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 in fact utilize this too really quickly over here you can copy people now it will give you a lot of options and you can use the system to in fact search for someone that you elegant really following so let’s see perhaps we want someone from joined kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually satisfied that criteria 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 obviously 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 suggest someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to verify are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact buying 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 good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so in fact for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production business as that. Does Etrade Use Fifo.
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