On this post you’ll find the answer to Etoro Follow Trade….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply do not want to decide what you in fact want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the to start with you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 as well now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which obviously cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something since that individual has said they’ve made revenue 14 months in a row buy these choices because you think is the best ones for you and that being said let’s dive directly in [Music] The 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 amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 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 also cover is the costs included actually vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for really buying and selling funds or etfs private products individual stocks.
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there’ll be charges on other parts possibly 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 before you really begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with costs really essential to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling alright so commission costs are free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can clearly put cash 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 on but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum quantity 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 sure that i’m just withdrawing when i definitely require to now you might say fine 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 somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches 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 great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two open market anyone at all 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 charge exists what are they really giving 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 say provide me us dollars rather you have to pay their fees now the terrific thing about however when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates 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 fees so that’s really excellent using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the investment platform in between the buy price and the list price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really means that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing cost of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to offer so they’re going to give 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 lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out costs it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last feat is called an
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overnight charge now this is really crucial if you’re actually utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an over night cost charged and even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which suggests you’re in fact purchasing the exact property rather than utilizing take advantage of anyway you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you go into the aid area this isn’t the over night costs info 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 just applies as i said to cfds there are some service charges of course depending on what you are buying also this is on your own so keep that in mind but full fees are totally within their help info alright and we spoke about along with complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of in fact using these copy functions they don’t have any extra costs on top of the normal charges that
are there now what you need to bear in mind though is these possibly handled by other people entirely or in some cases have actually produced portfolios you’ve got a genuine person doing the management you have to make sure you select the person that’s right for you similar to any profession this is your financial possessions so we definitely require to make certain it’s the right 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 choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money 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 information or anything you can essentially have this virtual portfolio imitate as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money maybe this is a great alternative for you once again to check the theories fine you may want to buy tesla or apple or this etf why not use the virtual choice as a way to type of safe play with it obviously you may have missed out on gains and losses throughout that time obviously if you had actually invested your real cash it permits you to construct self-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 individuals and copy portfolios now here’s something to remember 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 threat profile is now what do i imply by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply implies am i alright with potentially losing a great quantity of this financial investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly means they’ll lose at some time in their journey obviously people do generate income as well and i’ve got videos all about how you can make sure you are among the people to really make money however in this situation make sure you research study your risk level would you be all right providing your cash to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying completely if you’re someone who isn’t wanting to be that risky do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to in fact look for someone that you fancy really following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has actually fulfilled that criteria and it does offer you a threat factor as well 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 people that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to ensure 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 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 in fact purchasing so let’s go 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 sort of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is great so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s also got a little bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Etoro Follow Trade.
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