We get htis a lot on our site the answer to Reddit Thinkorswim Vs Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely don’t want to decide what you actually wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can take place the firstly you can employ an investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are created 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 also now if you’re brand new to an overall please keep 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 full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that 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 money they consider that choice as well so you actually get utilized to the structure of the website and after that 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 investing in genuine companies if you select to in this particular video we’re talking about how to copy other people’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 actually stated they’ve made earnings 14 months in a row invest in these choices since you think is the best ones for you which being said 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’s 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 extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means 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 likewise cover is the fees included truly critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 no charge websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 prior to you actually start investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with charges really essential to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a couple of other charges the first one is withdrawal fees so you can certainly 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 but when you want to withdraw your money so you offer your shares you sell your commodities 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 only withdrawing when i definitely require to now you may say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a lot of platforms certainly are totally free 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 when every 6 months you know depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two open market anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 have to pay their charges now the excellent aspect of however when you have actually transformed your money you do not have to invest it right now that dollar value can being in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site won’t certainly limit you in any way however we need to understand 2 other costs the first being what’s called spread charges alright and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is generally the distinction that belongs to the investment platform in between the buy rate and the price alright 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 value 599 per share in tesla that really suggests that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state all right well why does that occur 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 wish to sell it which is how they make a little bit of money on those spread fees it’s usually incredibly small it could be a matter of pens matter of cents in there however 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 fee now this is truly crucial if you’re in fact using cfds yourself also an overnight cost is when you’re not doing that buy offer deal in the exact same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one utilize which suggests you’re in fact buying the specific asset instead of utilizing leverage anyway you will not get hit with these costs however these fees are if you’re using leverage and cfds and after that you’re going to have these costs 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 overnight charges details you can see precisely 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 which only uses as i said to cfds there are some surcharges of course depending upon what you are purchasing too this is on your own so keep that in mind but complete charges are entirely within their assistance information fine and we discussed in addition to complimentary to deposit in but there’s a 5 dollar charge if you wish 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 various ways of in fact utilizing these copy operates they do not have any additional charges on top of the typical charges that
exist now what you need to keep in mind though is these potentially managed by other individuals totally or sometimes have actually created portfolios you’ve got a real individual doing the management you need to ensure you choose the person that’s right for you similar to any kind of work this is your monetary assets so we definitely 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 have actually got a couple of different alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine 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 charge card information or anything you can basically have this virtual portfolio imitate as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is a terrific choice for you once again to test the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had invested your genuine cash it permits you to construct self-confidence understand 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 individuals and copy portfolios now here’s something to keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i suggest by that undoubtedly 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 suggests am i fine with possibly losing an excellent amount of this investment or gaining as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 people will lose cash however that equally indicates they’ll lose at some time in their journey clearly individuals do make money also and i’ve got videos everything about how you can ensure you’re one of the people to really earn money but in this situation make certain you research your risk level would you be all right offering your cash to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that risky do not select someone who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you might 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 actually use this too actually quickly over here you can copy individuals now it will offer you a lot of options and you can utilize the system to in fact look for someone that you elegant actually following so let’s see possibly we desire someone from united kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has satisfied that criteria and it does give you a threat 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 individuals that have quite high returns
remember it’s like 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 four or minus 50 there’s no 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 confirm are you okay with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she in fact 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 excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i purchase too which is excellent so really for me knowing what i like to invest in my private 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 likewise got a little bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Reddit Thinkorswim Vs Etoro.
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