On this post you’ll find the answer to Etoro Open Case….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to choose what you actually wish to invest and you want somebody to do it for you there’s only a couple of ways that that can happen the first off you can work with a financial investment portfolio manager they’ll usually charge a quite 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 purchase mutual funds specific funds are created 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 a total please bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply assume since 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 really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they’ve made revenue 14 months in a row buy these options since you think is the best ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for example 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 likewise cover is the fees involved truly important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then might not charge you for actually buying and selling etfs or funds specific 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 type of fees 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 understand before you actually start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees truly important to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission costs are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can certainly 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 however when you wish to withdraw your cash so you sell 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great 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 great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two open market anyone at all this is standard they have actually i suppose stuck to 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 charge exists what are they actually giving 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 offer me us dollars instead you have to pay their charges now the great feature of however when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit 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 additional costs so that’s really excellent using that part of their site will not certainly restrict you in any way however we need to know two other charges the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you
on is essentially the difference that becomes part of the financial investment platform in between the buy rate and the sale price alright 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 value 599 per share in tesla that in fact suggests that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind clearly 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 all right 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 sell it which is how they make a little bit of money on those spread out fees it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit cash now the last accomplishment is called an
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over night fee now this is truly important if you’re actually using cfds yourself as well an overnight cost is when you’re not doing that buy sell transaction in the same day okay there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to cruising 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 utilize which indicates you’re really purchasing the exact asset instead of using leverage anyway you won’t get hit with these fees however these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the aid section this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some service charges of course depending on what you are purchasing as well this is on your own so keep that in mind but complete charges are totally within their aid details fine and we discussed as well as free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of in fact using these copy operates they don’t have any additional charges on top of the normal fees that
are there now what you require to remember though is these potentially managed by other individuals entirely or in some cases have actually created portfolios you’ve got a real individual doing the management you have to make sure you pick the person that’s right for you just like any type of work this is your monetary assets so we definitely require to make sure it’s the ideal person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different alternatives 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 money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real money possibly this is a great option for you once again to test the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it certainly you might have missed out on gains and losses during that time of course if you had actually invested your genuine money it permits you to build self-confidence comprehend the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to bear in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just implies am i alright with potentially losing a great amount of this financial investment or getting as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally implies they’ll lose at some time in their journey undoubtedly people do earn money too and i’ve got videos everything about how you can make certain you’re one of the people to in fact make money but in this scenario make sure you research your risk level would you be okay giving your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re someone who isn’t wishing to be that risky do not select somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact 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 actually look for someone that you fancy actually following so let’s see perhaps we desire someone from joined kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has met that criteria and it does give you a threat factor also so it tends to be the greater 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 indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to guarantee 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 validate are you alright with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can really 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 good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine actually that i invest in too which is excellent so really for me understanding what i like to buy my individual 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 bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production business as that. Etoro Open Case.
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