We get htis a lot on our site the answer to Harmony One Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you simply do not want to choose what you actually wish to invest and you desire somebody to do it for you there’s only a number of ways that that can happen the first off you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 an overall please bear in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that 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 also so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has actually said they’ve made profit 14 months in a row invest in these choices because you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending 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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popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for instance 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 likewise cover is the costs involved actually critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies 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 zero charge sites then may not charge you for actually buying and selling funds or etfs individual products individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 in fact start purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission fees are free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those choices that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 have to pay their fees now the terrific thing about though when you have actually transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website will not certainly restrict you in any way however we have to be aware of two other fees the first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is generally the distinction that belongs to the investment platform between the buy rate 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 today tesla’s dollar worth 599 per share in tesla that actually means that when you wish to purchase or sell as you can see it’s not the rate 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 distinction then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit 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 sell so they’re going to give you less back with your sale and you say okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread out costs it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last task is called an
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over night charge now this is truly crucial if you’re really using cfds yourself also an overnight cost is when you’re refraining from doing that buy sell deal in the very same day all right there’s then an overnight charge charged and even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which suggests you’re in fact purchasing the specific property instead of utilizing utilize anyway you won’t get hit with these costs however these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the assistance area this isn’t the overnight fees 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 only uses as i said to cfds there are some service charges of course depending upon what you are purchasing as well this is on your own so keep that in mind but complete costs are completely within their assistance information all right and we spoke about in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of actually utilizing these copy functions they don’t have any extra charges on top of the typical costs that
are there now what you need to remember though is these potentially managed by other people totally or sometimes have created portfolios you’ve got a genuine person doing the management you need to ensure you select the person that’s right for you similar to any kind of work this is your financial properties so we definitely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various alternatives for us first off 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 believe 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 details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is an excellent alternative for you again to check the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it obviously you might 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 alternative 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 someone 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 imply by that certainly 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 simply means am i fine with possibly losing a good amount of this financial investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly suggests they’ll lose eventually in their journey clearly individuals do generate income too and i’ve got videos all about how you can ensure you are among the people to actually make money but in this circumstance make sure you research your threat level would you be all right offering your money to someone else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re someone who isn’t wishing to be that risky do not choose someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more standard 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 state you can really utilize this too truly quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to in fact search for someone that you expensive really following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually met that requirements and it does offer you a danger factor also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make 4 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 understand 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 instance ruby mza as an example you can in fact deep dive into what is she in fact purchasing so let’s enter 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 absolutely like type of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so in fact for me understanding what i like to invest in 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 chooses she’s also got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production business as that. Harmony One Etoro.
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