We get htis a lot on our site the answer to Tom Heath Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely do not want to decide what you really want to invest and you want someone to do it for you there’s only a couple of manner ins which that can occur the to start with you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific 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 as well now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you actually get utilized 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 obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row invest in these options because you believe is the right ones for you and that being said let’s dive directly 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’s part of social trading which is one aspect that is most likely.
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famous for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included actually critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine 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 cost sites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
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there’ll be charges 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 show you the costs with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling fine so commission fees are totally free however there are a number of other costs the very first one is withdrawal charges so you can obviously put cash in now if you remain 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 wish 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those options 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 largely it can be perhaps even once a year when every six months you understand depends totally how you’re investing but that is a fee to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is basic 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 use their platform go from uk to us then that conversion fee exists 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 rather you have to pay their charges now the excellent feature of however when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests 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 additional charges so that’s really good utilizing that part of their site will not certainly limit you in any way nevertheless we have to know two other costs the first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform between the buy price and the list price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that actually means that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the current rate of tesla is the worth of a share what’s called spread charges 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 benefit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you state fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread costs it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last feat is called an
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over night fee now this is truly important if you’re really using cfds yourself as well an over night cost is when you’re refraining from doing that buy sell transaction in the very same day all right there’s then an over night charge charged or even if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which means you’re really buying the specific asset instead of using leverage anyhow you won’t get hit with these costs however these costs are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you enter into the help area this isn’t the over night fees information you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some service charges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete charges are completely within their aid information alright and we talked about along with free 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 whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of really utilizing these copy works they don’t have any additional costs on top of the regular fees that
exist now what you need to remember though is these possibly managed by other individuals totally or in some cases have produced portfolios you’ve got a real individual doing the management you need to make sure you pick the individual that’s right for you similar to any line of work this is your monetary possessions so we absolutely need to make certain it’s the best person for us prior to 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 various options 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 means 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 require to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however actually buy 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 an excellent choice for you again to check the theories okay you might wish to purchase tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it certainly you might have missed out on gains and losses during that time obviously if you had actually invested your real money it allows you to build confidence understand 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 really how to copy people and copy portfolios now here’s something to bear in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate 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 risk just suggests am i okay with possibly losing a good quantity of this investment or gaining as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 people will lose money however that similarly suggests they’ll lose at some point in their journey certainly individuals do earn money too and i have actually got videos all about how you can make sure you’re one of the people to really earn money however in this circumstance ensure you research study your risk level would you be okay giving your money to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky do not pick someone who’s totally into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps 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 say you can really utilize this too really easily over here you can copy individuals now it will provide you a lot of options and you can use the system to actually search for someone that you fancy really following so let’s see maybe we want somebody from unified kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has satisfied that requirements and it does give you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance 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 method to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she actually 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 great to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine actually that i buy too which is good so really for me knowing 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 likewise got a little bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production business as that. Tom Heath Etoro.
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