Etoro Vs Wealthsimple – Turtles of Trading

On this post you’ll find the answer to Etoro Vs Wealthsimple….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t want to decide what you really wish to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the firstly you can employ an investment portfolio manager they’ll typically charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are developed again with an account supervisor 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 innovative you can do cfds which naturally cfds are ways of investing

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with not actually having the total of capital so with anything that you’re finding out about please do study the platform do not just assume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you in fact 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 naturally your capital is at danger this is investing we’re doing you’re purchasing 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 obviously your capital is at threat and we have to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row buy these choices because you believe 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 aspect that is most likely.

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well-known for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually 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 purchase they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included truly important you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then might not charge you for really buying and selling etfs or funds individual products specific stocks.

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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with charges actually crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling all right so commission charges are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk cash.

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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity 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 make sure that i’m only withdrawing when i definitely need to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms undoubtedly are 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 understand depends completely how you’re investing however that is a charge to remember the second fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that fits me.

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a great deal of my stocks are us dollar stocks anyhow 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 fee now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee 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 say give me us dollars rather you have to pay their fees now the great aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their site won’t certainly limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you

on is basically the distinction that is part of the investment platform between the buy rate and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that really indicates that when you wish to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present price 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 discover this everywhere this is another way that they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say okay well why does that happen it simply 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 little 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 place every investment company will again make a bit cash now the last feat is called an

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over night charge now this is truly essential if you’re really utilizing cfds yourself as well an over night charge is when you’re refraining from doing that buy sell transaction in the same day alright there’s then an overnight fee charged or perhaps 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 product and using time one utilize which means you’re actually purchasing the precise asset instead of using leverage anyway you will not get hit with these fees however these charges are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you go into the help area this isn’t the over night charges details you can see exactly 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 just applies as i said to cfds there are some surcharges naturally depending upon what you are purchasing too this is on your own so keep that in mind however complete fees are completely within their help info alright and we talked about in addition to free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of actually using these copy functions they do not have any additional costs on top of the regular charges that

are there now what you require to keep in mind though is these possibly managed by other people totally or in some cases have produced portfolios you’ve got a real person doing the management you have to make sure you pick the person that’s right for you just like any kind of work this is your monetary properties so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money but really buy pretend buy copy individuals whatever you like if you’re not

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feeling comfortable with utilizing your genuine money maybe this is an excellent alternative for you again to test the theories all right you might want to purchase tesla or apple or this etf why not use the virtual option as a method to sort of safe have fun with it undoubtedly 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 understand the platform so that’s one choice for you then next week and i’m going to return 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 remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i fine with possibly losing a great amount of this financial investment or acquiring as

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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 individuals will lose money but that equally indicates they’ll lose at some point in their journey clearly individuals do earn money too and i’ve got videos everything about how you can make sure you’re one of individuals to actually earn money but in this circumstance make certain you research your danger level would you be alright providing your cash to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in totally if you’re somebody who isn’t wishing to be that dangerous do not choose somebody who’s completely 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 conventional etfs and index funds you might 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 in fact utilize this too actually quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to in fact look for somebody that you fancy in fact following so let’s see possibly we want someone from united kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has actually satisfied that requirements and it does offer you a risk factor as well 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 quite high returns

remember it’s like anything to do with the news or forecasts of the future this does not indicate someone 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 after that you understand ask you to confirm are you fine 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 in fact deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine really that i purchase too which is excellent so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great 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 companies and you’ve got you know pharmaceutical and production companies as that. Etoro Vs Wealthsimple.

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