So to start the answer to Etoro Client Suitability Test Answers….Questions that i speak with new financiers what if you’re brand new to investing you simply do not want to choose what you actually wish to invest and you desire someone to do it for you there’s only a couple of manner ins which that can take place the to start with you can work with an investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are produced 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 too now if you’re brand new to an overall please bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways 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 assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they’ve made earnings 14 months in a row buy these options due to the fact that you think is the best ones for you and that 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 probably.
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famous for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they sell whatever they do your cash will be simulated 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 costs involved actually vital you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 cost websites then may not charge you for in fact buying and selling funds or etfs private commodities 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 costs with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly essential to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling fine so commission charges are totally free however there are a number of other fees the first one is withdrawal charges so you can clearly put cash 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 in the future but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount 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 make sure that i’m just withdrawing when i definitely require to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those alternatives 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 mainly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that matches me.
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a great deal 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 fee now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 provide me us dollars instead you have to pay their fees now the fantastic aspect of though when you have actually converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial 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 extra costs so that’s actually good using that part of their website will not certainly restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform in between the buy price 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 today tesla’s dollar value 599 per share in tesla that really means that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present rate of tesla is the value of a share what’s called spread charges is the difference then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say all right well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last accomplishment is called an
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over night charge now this is truly essential if you’re really using cfds yourself as well an over night charge is when you’re refraining from doing that buy sell deal in the same day okay there’s then an overnight cost charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which indicates you’re really buying the specific asset instead of utilizing leverage anyhow you will not get hit with these costs however these charges are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the help 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 fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some service charges obviously depending on what you are purchasing too this is on your own so keep that in mind but complete charges are completely within their help info all right and we spoke about along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of actually utilizing these copy operates they don’t have any extra fees on top of the normal costs that
are there now what you need to bear in mind though is these possibly handled by other people completely or often have created portfolios you’ve got a real individual doing the management you need to make certain you pick the person that’s right for you similar to any line of work this is your monetary assets so we absolutely need to make sure it’s the right individual for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various 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 alternative to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are using your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a great choice for you again to check the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it undoubtedly you may have missed out on gains and losses throughout that time naturally if you had invested your real cash it enables you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger 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 alright with possibly losing an excellent amount of this investment or acquiring as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that equally means they’ll lose at some time in their journey certainly individuals do generate income as well and i have actually got videos all about how you can make sure you’re one of the people to really make money however in this scenario make sure you research your threat level would you be alright giving your money to somebody else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more standard 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 actually utilize this too truly quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to really search for someone that you elegant actually following so let’s see maybe we desire somebody from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has actually met that criteria and it does provide you a risk 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
remember it resembles anything to do with the news or forecasts of the future this does not indicate somebody 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 fine with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can actually 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 excellent to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine really that i invest in too which is great so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production business as that. Etoro Client Suitability Test Answers.
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