On this post you’ll find the answer to Chocowin Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just do not wish to choose what you actually want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the to start with you can employ an investment portfolio supervisor they’ll usually charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are developed 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 too now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not actually having the total of capital so with anything that you’re finding out about please do study the platform do not just assume since i use it that you can utilize 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 really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row purchase these choices due to the fact that you think is the right ones for you which being stated let’s dive straight in [Music] The 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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popular for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates 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 vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost websites then may not charge you for in fact buying and selling etfs or funds private commodities specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with costs actually essential to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer 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 make certain that i’m only withdrawing when i definitely require to now you might say all right 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 someplace and withdrawal fees are just 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 largely it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a cost to bear in mind the second cost that i’ve discussed is that conversion cost now with you’re dealing in 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 utilize anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they actually 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 provide me us dollars rather you need to pay their fees now the excellent feature of however when you’ve converted your cash you do not have to invest it right now that dollar worth can sit 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is generally the difference that belongs to the investment platform in between the buy rate and the sale price okay 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 value 599 per share in tesla that in fact means that when you wish to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the current rate 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 everywhere this is another manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you state alright well why does that happen it just 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 want to offer it which is how they make a little bit of cash on those spread out fees it’s usually extremely small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last task is called an
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overnight charge now this is truly essential if you’re actually using cfds yourself too an over night cost is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an over night charge charged or even if you go from the friday to the monday prior to sailing a weekend cost 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 implies you’re in fact purchasing the specific property rather than using leverage anyway 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 costs if you’re not buy selling in the very same day so let’s state if you go into the help area this isn’t the overnight fees information you can see exactly 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 which only applies as i said to cfds there are some added fees naturally depending on what you are investing in also this is on your own so keep that in mind however complete charges are entirely within their help info fine and we spoke about as well as totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of actually utilizing these copy works they do not have any extra costs on top of the regular costs that
are there now what you require to bear in mind though is these potentially handled by other people totally or often have actually developed portfolios you’ve got a real individual doing the management you have to make sure you select the person that’s right for you similar to any type of work this is your monetary properties so we definitely require to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple 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 choice 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 cash that you’re investing you will not require to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a terrific option for you again to test the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to sort of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time of course if you had actually invested your real money it permits you to develop self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk 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 financial investments the riskier you can be run the risk of just indicates am i alright with potentially losing an excellent quantity of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly means they’ll lose eventually in their journey certainly individuals do make money also and i have actually got videos everything about how you can make sure you’re one of the people to in fact generate income but in this scenario make certain you research your risk level would you be okay giving your cash to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not select someone who’s entirely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually use this too truly easily over here you can copy people now it will offer you a lot of options and you can use the system to in fact look for somebody that you elegant actually following so let’s see perhaps we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has satisfied that criteria and it does provide you a danger factor as well 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 rather high returns
bear in mind 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 might make four or minus 50 there’s no other way to ensure so do keep that in mind and as easy 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 method to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so actually for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production business as that. Chocowin Etoro.
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