On this post you’ll find the answer to Etoro Money Hero….Concerns that i hear from new financiers what if you’re brand new to investing you merely don’t want to decide what you really want to invest and you want somebody to do it for you there’s just a number of manner ins which that can occur the to start with you can work with an investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds particular 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 too now if you’re brand new to an overall please remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they have actually made profit 14 months in a row purchase these choices because you think is the ideal ones for you which being stated let’s dive directly 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 extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of options and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their 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 included actually critical you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 some of the absolutely no fee websites then may not charge you for really buying and selling etfs or funds private commodities 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 fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs actually important to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission charges are complimentary however there are a couple of other costs the first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling 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 ensure that i’m only withdrawing when i absolutely need to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those options that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends completely how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches 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 excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact offering 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 say provide me us dollars instead you have to pay their charges now the terrific aspect of 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 money dollars for as long as you like so that means the initial 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 extra charges so that’s truly good using that part of their site will not certainly restrict you in any way however we have to know two other costs the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is essentially the difference that becomes part of the investment platform between the buy price and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact means that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current cost of tesla is the worth 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 way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you say fine well why does that happen it simply 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 want to offer it which is how they make a bit of cash on those spread out charges it’s generally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit money now the last task is called an
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overnight charge now this is really important if you’re actually utilizing cfds yourself too an over night fee is when you’re not doing that buy offer deal in the exact same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which suggests you’re in fact buying the exact property instead of using take advantage of anyhow you won’t get hit with these charges but these charges are if you’re using leverage and cfds and after that 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 section this isn’t the over night fees details 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 and that just applies as i stated to cfds there are some service charges obviously depending upon what you are investing in too this is on your own so keep that in mind however full costs are entirely within their aid info fine and we talked about along with complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of in fact using these copy functions they do not have any additional charges on top of the normal fees that
exist now what you need to bear in mind though is these potentially handled by other people entirely or in some cases have created portfolios you have actually got a genuine individual doing the management you have to make certain you pick the person that’s right for you much like any kind of work this is your monetary assets so we definitely require to make certain it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real 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 cash that you’re investing you won’t need to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are using your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money maybe this is an excellent alternative for you again to test the theories fine you might wish to buy 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 might have missed out on gains and losses throughout that time of course if you had invested your genuine cash it allows you to build confidence understand the platform so that’s one option 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 individuals and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i indicate 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 just suggests am i fine with potentially losing a good amount of this investment or gaining as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 people will lose cash however that similarly indicates they’ll lose eventually in their journey certainly individuals do make money also and i’ve got videos all about how you can make sure you are among the people to actually generate income however in this situation make certain you research study your threat level would you be fine giving your cash to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more conventional 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 actually use this too truly quickly over here you can copy people now it will give you a lot of choices and you can use the system to in fact look for somebody that you fancy in fact following so let’s see possibly we desire somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great amount and i can find everybody who has fulfilled that requirements and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
keep in mind it resembles 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 guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you all right with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter 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 understand ibm paypal yep she’s definitely 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 excellent so in fact for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Etoro Money Hero.
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