On this post you’ll find the answer to Etoro Vs Freetrade Vs Robinhood….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t wish to choose what you really want to invest and you want somebody to do it for you there’s just a couple of ways that that can take place the first off you can employ a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can purchase 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 as well now if you’re brand new to a total please bear in mind this platform is quite advanced 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 finding out about please do study the platform do not just assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they’ve made profit 14 months in a row buy these choices because you believe is the ideal ones for you which being stated let’s dive straight 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 probably.
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popular for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their financial 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 important you understand what are the expenses of this now with any platform there will be some expense to certainly 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 some of the no cost sites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
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there’ll be costs on other parts perhaps 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 fees with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and finally some finest advice 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 charges really crucial to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling okay so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal charges so you can clearly put money in now if you remain in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you sell 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those alternatives 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 maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase 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 buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering 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 state give me us dollars rather you have to pay their charges now the great aspect of however when you’ve converted your cash 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 indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent using that part of their website won’t certainly limit you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you
on is generally the distinction that is part of the financial investment platform in between the buy rate and the price alright 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 value 599 per share in tesla that actually suggests that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll discover this all over 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 costly to purchase than it is to offer so they’re going to give you less back with your sale and you say okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread charges it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last task is called an
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overnight fee now this is actually crucial if you’re actually utilizing cfds yourself as well an overnight cost is when you’re not doing that buy sell transaction in the same day alright there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re in fact purchasing the exact asset instead of utilizing leverage anyway you won’t get hit with these costs however these costs are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the aid section this isn’t the overnight costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which only applies as i said to cfds there are some added fees naturally depending upon what you are investing in also this is on your own so keep that in mind but complete fees are entirely within their aid details alright and we discussed as well as complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of actually utilizing these copy operates they don’t have any extra fees on top of the normal fees that
are there now what you require to remember though is these possibly handled by other individuals totally or sometimes have actually created portfolios you have actually got a genuine individual doing the management you have to ensure you pick the individual that’s right for you just like any line of work this is your financial assets 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 have actually got a couple of various alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money possibly this is a fantastic alternative for you once again to evaluate the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual option as a method to type of safe play with it undoubtedly you may have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to build self-confidence understand the platform so that’s one alternative 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 before 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 run the risk of simply means am i fine with potentially losing a good amount of this investment or acquiring as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that similarly indicates they’ll lose at some time in their journey obviously individuals do earn money also and i have actually got videos all about how you can make sure you are among the people to really earn money however in this situation make certain you research study your threat level would you be fine providing your money to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re investing in totally if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more traditional 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 say you can in fact use this too truly easily over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to actually search for somebody that you expensive really following so let’s see maybe we desire somebody from united kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has satisfied that requirements and it does give you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite 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 could make four or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you fine with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she really purchasing 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 excellent to know ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so in fact for me understanding what i like to invest in my individual 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 likewise got a little bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production business as that. Etoro Vs Freetrade Vs Robinhood.
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