So to start the answer to Etoro Millionaire….Questions that i speak with brand-new investors what if you’re brand new to investing you just do not wish to decide what you in fact wish to invest and you desire someone to do it for you there’s only a number of ways that that can happen the first of all you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are produced 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 too now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which obviously cfds are methods 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 do not simply assume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you in fact 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 of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they have actually made revenue 14 months in a row purchase these choices since you believe is the ideal ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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popular for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved really important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge websites then might not charge you for actually buying and selling etfs or funds individual commodities private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling alright so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can clearly put money 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 however when you wish to withdraw your money so you sell your shares you offer your products 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 of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a charge to keep in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really giving 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 instead you have to pay their charges now the terrific feature of however when you’ve 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 suggests 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 charges so that’s really excellent using that part of their site will not definitely restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is basically the difference that becomes part of the investment platform in between the buy rate and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that actually indicates that when you want to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current price of tesla is the value of a share what’s called spread fees is the distinction then actually to purchase 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 each time you do a purchaser’s share so keep that in mind certainly it’s more costly to buy 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 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 usually extremely little 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 money now the last feat is called an
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over night cost now this is truly crucial if you’re actually using cfds yourself too an overnight charge is when you’re not doing that buy offer deal in the same day fine there’s then an overnight charge charged and even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which implies you’re actually buying the precise property instead of utilizing take advantage of anyhow you will not get hit with these charges but these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you go into the assistance section this isn’t the overnight fees information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only uses as i stated to cfds there are some surcharges obviously depending on what you are purchasing as well this is on your own so keep that in mind but complete costs are entirely within their help information alright and we discussed in addition to totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of in fact using these copy functions they don’t have any additional charges on top of the typical fees that
are there now what you need to remember though is these possibly managed by other people entirely or sometimes have actually developed portfolios you’ve got a real individual doing the management you have to ensure you pick the individual that’s right for you just like any kind of work this is your monetary possessions so we definitely require to make certain it’s the best 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 have actually got a number of various alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual ways i think 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 information or anything you can generally have this virtual portfolio simulate as if you are using your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a fantastic option for you again to test the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it certainly you may have missed out on gains and losses during that time of course if you had invested your real cash it permits you to build self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain 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 just means am i fine with possibly losing an excellent amount of this investment or getting as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the fact 75 individuals will lose cash but that similarly means they’ll lose at some time in their journey certainly people do make money also and i’ve got videos everything about how you can make sure you are among the people to actually make money however in this scenario make sure you research your risk level would you be fine providing your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that risky don’t select someone who’s completely into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may 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 in fact 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 in fact look for somebody that you fancy in fact following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has actually met that criteria and it does provide you a risk factor also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you all right with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine really that i purchase too which is excellent so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses 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 companies as that. Etoro Millionaire.
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