We get htis a lot on our site the answer to Etoro Vs Wealthsimple….Concerns that i hear from new financiers what if you’re brand new to investing you simply do not want to choose what you really 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 hire an investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 quite innovative you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well 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 danger this is investing we’re doing you’re investing in real business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row invest in these choices since you think is the best 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 probably.
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well-known for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really 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 included and even a few of the absolutely no cost sites then may not charge you for really buying and selling etfs or funds private products specific 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 kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with charges truly essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling fine so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously 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 on but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling 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 only withdrawing when i absolutely need to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase 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 excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really offering 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 offer me us dollars rather you need to pay their fees now the excellent feature of however when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary 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 fees so that’s actually excellent utilizing that part of their website will not definitely limit you in any way however we need to be aware of 2 other charges the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is generally the distinction that becomes part of the investment platform between the buy price and the price fine it’s their premium on doing both those two 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 wish 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 current cost of tesla is the worth of a share what’s called spread fees is the distinction then in fact 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 purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you say okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of money on those spread costs it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last feat is called an
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over night fee now this is truly important if you’re actually utilizing cfds yourself as well an over night cost is when you’re refraining from doing that buy sell transaction in the very same day alright there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising a weekend fee 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 implies you’re actually buying the specific possession rather than utilizing leverage anyway you won’t get hit with these fees but these charges are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the aid area this isn’t the over night charges info 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 applies as i stated to cfds there are some surcharges obviously depending upon what you are purchasing as well this is on your own so keep that in mind however full fees are entirely within their aid details okay and we spoke about along with totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of actually using these copy works they don’t have any additional fees on top of the typical charges that
exist now what you need to remember though is these possibly managed by other individuals totally or sometimes have actually produced portfolios you have actually got a real person doing the management you need to make certain you pick the person that’s right for you much like any kind of work this is your monetary possessions so we absolutely require to make certain it’s the best 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 couple of different alternatives 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 methods 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 need to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a terrific choice for you once again to evaluate the theories okay you might wish to buy tesla or apple or this etf why not use the virtual option as a way to type of safe play with it undoubtedly you may have missed out on gains and losses throughout that time obviously if you had invested your real money 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 go back to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i imply by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of just implies am i all right with potentially losing a great quantity of this investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that equally means they’ll lose at some time in their journey undoubtedly individuals do generate income also and i’ve got videos all about how you can make certain you are among the people to really generate income however in this circumstance make certain you research your threat level would you be alright giving your cash to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying completely if you’re someone who isn’t wishing to be that risky don’t select someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can actually use this too really easily over here you can copy individuals now it will give you a great deal of choices and you can use the system to really search for somebody that you expensive in fact following so let’s see perhaps we want someone from unified kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has met that criteria and it does give you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not imply 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 basic as clicking the copy button and off you go and then you know ask you to verify are you all right with this and off you go now another way 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 in fact investing in 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 know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is great so in fact for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she chooses she’s also got a bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Etoro Vs Wealthsimple.
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