On this post you’ll find the answer to Etoro Islamic Finance Guru….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t want to choose what you really wish to invest and you want someone to do it for you there’s only a number of manner ins which that can take place the to start with you can work with a financial investment portfolio manager they’ll normally charge a rather 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 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 too now if you’re brand new to an overall please keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i use 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 give that alternative as well so you in fact get used 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 obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row buy these options due to the fact that you think is the best ones for you and that being said let’s dive straight in [Music] so 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 aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their 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 fees involved truly critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real 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 absolutely no cost sites then may not charge you for really buying and selling funds or etfs individual commodities individual stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 really start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs actually essential to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are free nevertheless there are a couple of other charges the first one is withdrawal fees so you can undoubtedly 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 on but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends entirely how you’re investing but that is a cost to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good 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 anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they really providing 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 give me us dollars instead you need 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 value can being in your portfolio as cash dollars for as long as you like so that suggests 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 really great utilizing that part of their website will not certainly restrict you in any way nevertheless we have to understand two other charges the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the investment platform between the buy cost and the sale price fine it’s their premium on doing both those two 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 want to sell or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present cost of tesla is the value of a share what’s called spread costs is the difference then actually 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 every time you do a purchaser’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread out costs it’s normally incredibly little 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 cash now the last accomplishment is called an
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over night charge now this is actually crucial if you’re in fact utilizing cfds yourself also an over night cost is when you’re refraining from doing that buy sell transaction in the exact same day okay there’s then an overnight 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 in fact buying out the etf the stock the commodity and using time one leverage which means you’re really buying the specific possession rather than utilizing utilize anyhow you will not get hit with these costs but these costs are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you go into the assistance area this isn’t the over night charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some added fees naturally depending on what you are purchasing also this is on your own so keep that in mind but complete fees are entirely within their assistance information alright and we talked about in addition to totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of really using these copy functions they don’t have any additional charges on top of the regular charges that
exist now what you need to remember though is these possibly managed by other individuals completely or often have developed portfolios you’ve got a genuine person doing the management you have to make certain you pick the individual that’s right for you just like any type of work this is your financial properties so we definitely need to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual ways 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 need to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is a fantastic option for you again to check the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe have fun with it clearly you might have lost out on gains and losses during that time naturally if you had invested your genuine money it enables you to construct confidence comprehend the platform so that’s one alternative 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 remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger 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 risk just suggests am i okay with possibly losing a great amount of this financial investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally suggests they’ll lose eventually in their journey clearly individuals do make money too and i’ve got videos everything about how you can make certain you are among individuals to actually generate income but in this circumstance make certain you research your danger level would you be all right offering your cash to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous don’t choose someone who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more standard 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 utilize this too really quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to actually look for someone that you fancy actually following so let’s see perhaps we desire someone from unified kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everybody who has fulfilled that criteria and it does offer you a risk element too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest someone 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 basic as clicking the copy button and off you go and after that you know ask you to confirm are you alright with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she really investing in 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 great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine actually that i buy too which is excellent so really for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production companies as that. Etoro Islamic Finance Guru.
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