So to start the answer to Etoro Trading Knowledge Assessment Answers….Concerns that i hear from new financiers what if you’re brand new to investing you simply do not wish to decide what you actually wish to invest and you want somebody to do it for you there’s just 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 quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are developed once 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 keep in mind this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you in fact get utilized to the structure of the site 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 danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they have actually made profit 14 months in a row purchase these options because you think is the best ones for you which 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’s part of social trading which is one aspect that is probably.
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well-known for it’s the choice 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 and so that suggests with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates if for example 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 costs involved truly vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 zero cost websites then may not charge you for actually buying and selling funds or etfs individual commodities private stocks.
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there’ll be costs on other parts maybe 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 reveal you the charges with in particular in this video the next would be things to know prior to you in fact begin buying 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 financier so let’s kick off with fees actually crucial to understand these now on there’s a number of costs there isn’t fees to do with actually buying and selling fine so commission fees are totally free however there are a number of other fees the very first one is withdrawal fees so you can clearly put cash 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 on however when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those choices that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing however that is a cost to remember the second charge 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 and that’s great 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 even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they really giving you in regards to 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 need to pay their costs now the fantastic thing about however when you have actually transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 fees so that’s really excellent utilizing that part of their website will not definitely restrict you in any way however we have to understand two other costs the first being what’s called spread fees all right 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 is part of the investment platform between the buy price and the sale price all right 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 means that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing cost of tesla is the value of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you say alright well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread costs it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit cash now the last task is called an
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overnight charge now this is really crucial if you’re actually utilizing cfds yourself as well an over night charge is when you’re not doing that buy sell transaction in the very same day okay there’s then an overnight cost charged or even 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 commodity and utilizing time one take advantage of which means you’re actually purchasing the exact possession instead of utilizing take advantage of anyway you will not get hit with these fees however these charges are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the assistance area this isn’t the over night fees information 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 only applies as i stated to cfds there are some additional charges obviously depending upon what you are investing in too this is on your own so keep that in mind but full charges are entirely within their help info okay and we discussed in addition to free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of in fact utilizing these copy works they don’t have any extra costs on top of the regular charges that
are there now what you require to keep in mind though is these possibly handled by other individuals totally or in some cases have actually developed portfolios you have actually got a real person doing the management you have to make certain you select the individual that’s right for you just like any profession this is your financial possessions so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means i think 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 information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is an excellent option for you again to test the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe play with it obviously you might have missed out on gains and losses throughout that time naturally if you had actually invested your genuine cash it enables you to develop self-confidence understand 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 before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that certainly 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 suggests am i all right with possibly losing an excellent amount of this investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose money that’s why they make the fact 75 individuals will lose money however that similarly means they’ll lose eventually in their journey obviously people do make money as well and i have actually got videos everything about how you can make sure you’re one of the people to really generate income but in this situation make certain you research study your danger level would you be fine giving your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that dangerous don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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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 say you can actually use this too truly easily over here you can copy people now it will offer you a lot of options and you can utilize the system to actually search for somebody that you fancy actually following so let’s see possibly we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great amount and i can find everyone who has actually fulfilled that requirements 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 undoubtedly there are a variety of individuals that have quite high returns
bear in mind it resembles anything to do with the news or forecasts 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 other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you alright with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really purchasing 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 great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine really that i invest in too which is great so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production business as that. Etoro Trading Knowledge Assessment Answers.
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