On this post you’ll find the answer to Block66 Etoro….Questions that i hear from brand-new investors what if you’re brand new to investing you simply do not want to decide what you actually wish to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the firstly you can hire an investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 too now if you’re brand new to a total please bear in mind this platform is rather advanced 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 learning more about please do study the platform do not just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option also so you actually get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row invest in these options since you think 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element 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 typically 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 cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be simulated 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 money in so we’re going to likewise cover is the costs involved really crucial 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 purchasing the selling for you there’s going to be charges included and even a few of the zero fee websites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 understand prior to you actually start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission costs are complimentary however there are a couple of other charges the 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 immediately converted into us dollars and i’ll cover a little point about that in the future however 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 five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase 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 charge now when you utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists 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 bargain with them you can’t go to the bank and state give me us dollars rather you need to pay their charges now the excellent aspect of though when you have actually transformed your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform 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 restrict you in any way however we have to understand two other fees the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the investment platform between the buy cost and the sale price all right 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 really means that when you want to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the present rate of tesla is the worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to provide you less back with your sale and you say all right well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to offer it which is how they make a little bit of cash on those spread out costs it’s generally incredibly little 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 essential if you’re in fact using cfds yourself also an overnight charge is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which indicates you’re really buying the exact possession rather than using take advantage of anyway you will not get hit with these fees however these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the help area this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some service charges of course depending on what you are investing in also this is on your own so keep that in mind but complete fees are entirely within their assistance details okay and we talked about as well as totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of actually using these copy functions they don’t have any additional costs on top of the typical fees that
are there now what you need to keep in mind though is these potentially handled by other individuals completely or in some cases have actually created portfolios you’ve got a genuine person doing the management you need to ensure you pick the person that’s right for you just like any line of work this is your financial possessions so we definitely need to make certain it’s the ideal person for us before 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 first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual methods i believe 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 charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a great alternative for you again to test the theories okay you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it certainly you may have missed out on gains and losses throughout that time naturally if you had invested your real money it enables you to develop self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i okay with possibly losing an excellent amount of this financial investment or getting as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 people will lose cash however that equally indicates they’ll lose eventually in their journey certainly individuals do make money as well and i have actually got videos everything about how you can make sure you are among individuals to actually generate income but in this situation ensure you research study your threat level would you be fine providing your money to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in completely if you’re somebody who isn’t wanting to be that dangerous don’t select somebody who’s completely into crypto or currency conversion consider it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 state you can really use this too really quickly over here you can copy people now it will give you a great deal of choices and you can use the system to actually look for somebody that you fancy in fact following so let’s see possibly we want someone from unified kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has fulfilled that criteria and it does offer you a threat element as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
keep in mind it resembles 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 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 know ask you to verify are you fine with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she really purchasing 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 absolutely like sort of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so really for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise 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. Block66 Etoro.
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