On this post you’ll find the answer to Etoro Simon Peters….Questions that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to decide what you actually want to invest and you want somebody to do it for you there’s just a number of ways that that can happen the to start with you can employ an investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds specific 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 sophisticated you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you in fact get utilized to the structure of the site and then 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 real companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row buy these options due to the fact that you believe is the right ones for you which being stated 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 becomes part of social trading which is one aspect that is probably.
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famous for it’s the alternative 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 means with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that implies 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 costs involved really crucial you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost websites then might not charge you for really buying and selling etfs or funds specific products individual stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees actually essential to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling all right so commission costs are totally free however there are a couple of other charges the very first one is withdrawal costs so you can certainly put money in now if you’re 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 later but 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 five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those alternatives that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a cost to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’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 buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving you in regards to 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 offer me us dollars instead you need to pay their charges now the fantastic feature of however when you’ve transformed your cash you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase 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 really good utilizing that part of their website will not certainly limit you in any way however we have to understand 2 other fees the very first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform between the buy price and the price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that in fact suggests that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the existing cost of tesla is the value of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you state fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread out charges it’s generally incredibly 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 task is called an
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over night cost now this is really important if you’re actually utilizing cfds yourself too an overnight cost is when you’re not doing that buy offer deal in the exact same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which indicates you’re in fact buying the precise possession rather than utilizing utilize anyway you won’t get hit with these costs but these fees are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the help area this isn’t the over night costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which just applies as i stated to cfds there are some added fees naturally depending on what you are purchasing as well this is on your own so keep that in mind however complete costs are completely within their aid details alright and we spoke about along with free 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 five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy operates they do not have any extra costs on top of the typical fees that
exist now what you require to keep in mind though is these potentially managed by other individuals completely or sometimes have actually developed portfolios you’ve got a genuine individual doing the management you need to make certain you choose the individual that’s right for you much like any kind of work this is your monetary possessions so we definitely need to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of various options for us first of all 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 means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own cash however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is an excellent alternative for you again to evaluate the theories fine you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it clearly you may have missed out on gains and losses throughout that time naturally if you had invested your real cash it allows you to construct confidence understand the platform so that’s one choice for you then next week and i’m going to go back 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 keep in mind before you pick 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 undoubtedly 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 indicates am i all right with potentially losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 people will lose money but that similarly indicates they’ll lose eventually in their journey certainly people do generate income as well and i have actually got videos all about how you can make certain you are among the people to really make money but in this situation make sure you research study your danger level would you be all right providing your money to somebody else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that risky do not pick someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a foundation 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 state you can actually utilize this too actually quickly over here you can copy people now it will give you a great deal of choices and you can use the system to actually look for somebody that you elegant actually following so let’s see maybe we want someone from united kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has actually met that criteria and it does offer you a danger element too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure 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 validate are you fine with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can in fact 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 little bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is good so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s also got a bit more um of the kind of main food companies and you’ve got you know pharmaceutical and production companies as that. Etoro Simon Peters.
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