We get htis a lot on our site the answer to Etoro Vs Webull Vs M1 Finance….Questions that i speak with brand-new investors what if you’re brand new to investing you merely don’t want to decide what you in fact want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can take place the firstly you can work with an investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 as well now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which of course 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 do not simply assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you actually get used to the structure of the site and after that when you’re ready to use 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 purchasing genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to 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 extraordinary 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 implies with our money we can really 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 purchase they offer whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 fee sites then might not charge you for really buying and selling etfs or funds individual products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 understand before you in fact begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges actually essential to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal charges 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 immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you offer your shares you sell 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 make certain that i’m only withdrawing when i definitely need to now you might state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those options that they have a great deal of platforms certainly are totally free 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 once every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort 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 in fact providing 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 provide me us dollars rather you need to pay their charges now the great feature of though when you’ve transformed your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site won’t certainly limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is basically the distinction that is part of the investment platform between the buy price 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 today tesla’s dollar worth 599 per share in tesla that really implies that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind obviously 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 okay well why does that happen 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 want to offer it and that is how they make a little bit of money on those spread out costs it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit money now the last feat is called an
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overnight cost now this is actually essential if you’re really utilizing cfds yourself too an over night cost is when you’re not doing that buy offer transaction in the exact same day okay there’s then an over night cost charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually buying the precise asset rather than utilizing leverage anyhow you won’t get hit with these fees however these fees are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you enter into the aid area this isn’t the over night costs 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 just uses as i said to cfds there are some service charges naturally depending upon what you are purchasing also this is on your own so keep that in mind but complete costs are totally within their assistance info okay and we discussed as well as complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of in fact utilizing these copy works they do not have any extra costs on top of the regular costs that
are there now what you need to bear in mind though is these potentially managed by other people completely or sometimes have actually produced portfolios you’ve got a real person doing the management you have to make certain you choose the person that’s right for you similar to any line of work this is your monetary possessions so we definitely need to make sure it’s the ideal person 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 number of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are using your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is a fantastic option for you once again to test the theories alright you may want to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe have fun with it certainly you may have lost out on gains and losses throughout that time obviously if you had actually invested your real cash it allows you to develop confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i mean by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i fine with potentially losing an excellent quantity of this investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that equally means they’ll lose at some point in their journey undoubtedly individuals do generate income as well and i’ve got videos everything about how you can make certain you are among the people to actually generate income however in this situation make sure you research your danger level would you be fine giving your money to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that risky don’t pick someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact utilize this too really easily over here you can copy people now it will offer you a lot of options and you can use the system to actually search for somebody that you elegant actually following so let’s see perhaps we want somebody from unified kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has met that criteria and it does give you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee 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 validate 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 really deep dive into what is she really investing in so let’s go 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 certainly like type 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 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 appears to be what she prefers she’s also got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Etoro Vs Webull Vs M1 Finance.
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