On this post you’ll find the answer to Etoro Nairaland….Questions that i speak with brand-new investors what if you’re brand new to investing you just don’t wish to choose what you actually want to invest and you desire somebody to do it for you there’s just a number of manner ins which that can occur the first of all you can hire a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can purchase 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 a total please keep in mind this platform is rather innovative 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 learning about please do study the platform do not just assume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not just do something because that person has stated they have actually made profit 14 months in a row purchase these options because you think is the right ones for you which being said 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 aspect that is most likely.
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well-known for it’s the alternative to see what other traders are doing amazing we do not 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 actually state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates 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 also cover is the fees involved actually important you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business 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 zero fee websites then might not charge you for really buying and selling funds or etfs private products private 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 sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling all right so commission charges are free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can certainly put money 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 however 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 sure that i’m just withdrawing when i absolutely require to now you might say all right that’s rather pricey 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 simply one of those choices that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or 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 using trading two and two open market anybody this is basic they have actually i suppose stuck to whatever charge 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 exists 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 state give me us dollars instead you need to pay their costs now the great feature of though when you have actually transformed your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great using that part of their site will not definitely restrict you in any way however we need to be aware of two other fees the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is basically the difference that becomes part of the financial investment platform in between the buy rate and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact suggests that when you want to purchase or offer 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 value of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of make money from you whenever 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 give you less back with your sale and you state alright 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 want to sell it which is how they make a little bit of money on those spread out charges it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit cash now the last task is called an
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overnight fee now this is actually crucial if you’re in fact using cfds yourself too an overnight charge is when you’re refraining from doing that buy sell transaction in the same day alright there’s then an overnight fee charged and even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re actually buying the specific possession rather than using take advantage of anyway you won’t get hit with these charges however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s state if you enter into the help area this isn’t the over night fees information you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just applies as i said to cfds there are some additional charges naturally depending on what you are investing in also this is on your own so keep that in mind but full fees are entirely within their assistance info alright and we discussed as well as totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they do not have any additional fees on top of the regular charges that
exist now what you need to bear in mind though is these possibly managed by other people totally or often have actually created portfolios you’ve got a real person doing the management you need to make certain you choose the individual that’s right for you similar to any profession this is your financial assets so we absolutely require to ensure it’s the ideal person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of different alternatives 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 genuine cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money however actually purchase 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 a terrific alternative for you once again to evaluate the theories fine you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it obviously you may have missed out on gains and losses during that time obviously if you had invested your real money it enables you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i indicate by that certainly 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 means am i fine with possibly losing a good amount 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 fact 75 individuals will lose cash however that equally indicates they’ll lose at some time in their journey obviously individuals do generate income too and i have actually got videos all about how you can make sure you’re one of individuals to actually make money however in this scenario ensure you research your threat level would you be alright providing your cash to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re buying completely if you’re somebody who isn’t wishing to be that dangerous do not choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not desire 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 actually quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to really look for someone that you fancy in fact following so let’s see possibly we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has fulfilled that requirements and it does offer you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone 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 understand ask you to verify are you alright with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is great so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of main food business and you’ve got you know pharmaceutical and production companies as that. Etoro Nairaland.
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