So to start the answer to Lee Chief Risk Officer Etrade Jersey City….Questions that i hear from new financiers what if you’re brand new to investing you just do not wish to choose what you actually want to invest and you desire somebody to do it for you there’s only a couple of ways that that can take place the to start with you can work with an investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are developed 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 also now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing investor, market, cost, time, broker, deposit, trade, accounts, review, take advantage of, crypto, worth, funds, performance, trades, stocks, assets, markets, copy, service, spread, demonstration, gain access to, withdrawal high danger, trading cfds, social trading, retail investor accounts, demo account, previous efficiency, social trading platform, minimum deposit, business mix, usa llc, trading platform, regulative. with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t just presume 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 money they consider that option also so you really get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat 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 investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row invest in these options since you think is the ideal ones for you which being stated 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 unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means if for example 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 also cover is the costs included actually important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds individual products private stocks. structure, future outcomes, user score, virtual portfolio, complex instruments, cryptocurrency trading, etoro platform, etoro account, customer service, popular investor, unified states, cfds work, etoro review, genuine money, copy trading, charge card, etoro demonstration account, trading charges, unstable instruments. there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 understand before you in fact start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges actually important to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling all right so commission costs are totally free however there are a couple of other costs the very first one is withdrawal costs so you can certainly put cash in now if you’re 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 however when you wish to withdraw your cash 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms obviously are free 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 as soon as every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the second fee that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits 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 open market anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they really offering 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 provide me us dollars instead you need to pay their costs now the great thing about though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their website won’t definitely restrict you in any way however we need to understand two other charges the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you on is basically the distinction that is part of the financial investment platform between the buy cost and the price all right it’s their premium on doing both those two 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 want to buy or offer as you can see it’s not the cost 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 costs is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you state all right well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to offer it and that is how they make a bit of money on those spread charges it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit money now the last feat is called an
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over night cost now this is really important if you’re actually using cfds yourself also an overnight cost is when you’re not doing that buy offer deal in the same day all right there’s then an overnight cost charged or perhaps 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 really buying out the etf the stock the commodity and using time one utilize which implies you’re in fact buying the exact property instead of utilizing leverage anyway you will not get hit with these costs however these charges are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you enter into the help section this isn’t the overnight costs information 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 service charges obviously depending on what you are purchasing as well this is on your own so keep that in mind however complete fees are entirely within their assistance details fine and we spoke about along with complimentary to deposit in however there’s a five dollar charge if you want 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 said copy trading and copy portfolios are two different ways of actually using these copy operates they do not have any extra costs on top of the normal charges that exist now what you require to remember though is these possibly managed by other individuals entirely or often have developed portfolios you’ve got a real individual doing the management you need to make certain you select the individual that’s right for you much like any type of work this is your financial possessions so we absolutely need to ensure it’s the best individual for us before we copy them so the first things i would call it if you do want to utilize this function we’ve 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 choice to invest real money or a virtual platform virtual methods 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 need to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are using your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is an excellent option for you again to evaluate the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe have fun with it clearly you might have lost out on gains and losses throughout that time obviously if you had actually invested your real money it enables you to construct self-confidence understand 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 really how to copy people and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i mean by that obviously 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 suggests am i alright with possibly losing an excellent quantity of this investment or acquiring as etoro, trading, account, platform, traders, cash, danger, trader, investment, portfolio, cryptocurrency, fees, cfds, cryptocurrencies, investors, users Lee Chief Risk Officer Etrade Jersey City well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money but that similarly implies they’ll lose eventually in their journey certainly people do generate income as well and i’ve got videos all about how you can make sure you’re one of the people to in fact earn money but in this situation ensure you research your danger level would you be fine offering your cash to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re investing in totally if you’re someone who isn’t wanting to be that dangerous don’t pick someone who’s completely into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually utilize this too really easily over here you can copy people now it will offer you a great deal of choices and you can use the system to in fact look for somebody that you elegant in fact following so let’s see possibly we desire somebody from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has actually met that requirements and it does provide you a danger element also 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 people that have quite 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 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 know ask you to confirm are you fine with this and off you go now another method to actually deep dive if we click this person for example 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 certainly like type of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is excellent so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s likewise got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Lee Chief Risk Officer Etrade Jersey City. diversify your portfolio, margin, etoro (uk) ltd, copy trading, cryptocurrency exchanges, cryptocurrencies, ecn, fund supervisor, etf, coinbase,, liquidity, indexes, market order