So to start the answer to Etoro Correct Statement….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply don’t wish to decide what you really wish to invest and you desire someone to do it for you there’s only a number of manner ins which that can take place the to start with you can work with a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular 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 too now if you’re brand new to a total please remember this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually get used to the structure of the website and after that when you’re ready to utilize 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 investing in genuine companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they have actually made earnings 14 months in a row buy these choices since you believe is the right ones for you and that 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 most likely.
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well-known for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated 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 costs included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 a few of the no charge websites then might not charge you for really buying and selling etfs or funds individual products 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 sort of charges 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 before you in fact begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission charges are totally free nevertheless there are a number of other costs the first one is withdrawal charges 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 automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a lot of platforms clearly 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 when every six months you understand depends totally how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase 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 anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 say provide me us dollars instead you have to pay their fees now the fantastic thing about however when you’ve converted your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their website will not certainly limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy cost and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact means that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current cost of tesla is the worth of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit from you each time 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 okay 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 wish to sell it and that is how they make a bit of cash on those spread out charges it’s usually exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last feat is called an
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over night fee now this is really important if you’re in fact utilizing cfds yourself also an over night fee is when you’re refraining from doing that buy offer transaction in the same day fine there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which indicates you’re actually purchasing the specific property rather than using utilize anyway you won’t get hit with these costs however these costs are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the assistance section this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some service charges obviously depending upon what you are purchasing too this is on your own so keep that in mind but complete fees are entirely within their aid details all right and we talked about in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of in fact utilizing these copy functions they don’t have any extra fees on top of the normal charges that
are there now what you need to keep in mind though is these possibly handled by other individuals entirely or often have produced portfolios you have actually got a real person doing the management you need to make certain you select the person that’s right for you much like any profession this is your financial properties so we definitely require to make certain it’s the right individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of various choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means 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 require to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a great choice for you once again to check the theories okay you might want to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it clearly you may have lost out on gains and losses during that time of course if you had actually invested your real money it enables you to build 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 actually how to copy individuals and copy portfolios now here’s something to remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i mean 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 risk just indicates am i all right with potentially losing a great amount of this investment or acquiring as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money however that similarly means they’ll lose at some time in their journey clearly individuals do earn money too and i’ve got videos everything about how you can make sure you’re one of individuals to in fact generate income but in this circumstance make sure you research your danger level would you be okay offering your money to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not choose someone who’s entirely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not desire 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 easily over here you can copy people now it will offer you a lot of choices and you can utilize the system to actually search for somebody that you fancy in fact following so let’s see perhaps we want someone from united kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has actually fulfilled that requirements and it does give you a danger element too 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
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they might make four 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 know ask you to validate are you all right 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 really buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is excellent 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 companies that appears to be what she prefers she’s also got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production business as that. Etoro Correct Statement.
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