On this post you’ll find the answer to Firmo Etoro….Questions that i speak with new investors what if you’re brand new to investing you simply do not wish to choose what you actually want to invest and you desire somebody to do it for you there’s only a couple of ways that that can occur the to start with you can work with a financial investment portfolio manager they’ll generally 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 of course you can purchase mutual funds specific funds are created 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 an overall please bear in mind this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get used to the structure of the website and after that 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 investing in genuine companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row purchase these options because you believe is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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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famous for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for example 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 costs included actually critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 charge sites then might not charge you for actually buying and selling funds or etfs private products private stocks.
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there’ll be charges on other parts perhaps 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 charges with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission charges are complimentary however there are a number of other fees 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 automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends completely how you’re investing however that is a charge to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they actually offering you in regards to 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 provide me us dollars instead you need to pay their costs now the terrific feature of though when you’ve converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform 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 really great utilizing that part of their site won’t definitely restrict you in any way however we have to know 2 other fees the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is essentially 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 two 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 really suggests that when you wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me show you that once again so the present cost of tesla is the value of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more costly to buy 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 occur it simply 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 and that is how they make a bit of money on those spread costs it’s generally incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last accomplishment is called an
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over night cost now this is really crucial if you’re really using cfds yourself too an over night cost is when you’re refraining from doing that buy sell transaction in the same day fine there’s then an overnight charge charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which indicates you’re in fact purchasing the specific property rather than utilizing take advantage of anyhow you will not get hit with these costs but these costs are if you’re utilizing take advantage of 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 go into the aid section this isn’t the overnight charges details 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 additional charges naturally depending on what you are purchasing as well this is on your own so keep that in mind however full fees are entirely within their aid information 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 commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually using these copy operates they do not have any additional costs on top of the typical charges that
are there now what you require to bear in mind though is these possibly handled by other individuals completely or in some cases have actually developed portfolios you have actually got a real person doing the management you need to ensure you choose the person that’s right for you similar to any line of work this is your financial properties so we definitely require to ensure it’s the right 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 options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods 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 need to put in your credit card details or anything you can generally 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 comfortable with using your genuine cash perhaps this is a great option for you again to evaluate the theories okay you might 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 lost out on gains and losses throughout that time of course if you had invested your real cash it allows you to build self-confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back to my genuine 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 prior to you select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk 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 risk just suggests am i fine with potentially losing a great quantity of this financial investment or getting as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 people will lose money but that similarly suggests they’ll lose at some time in their journey certainly people do generate income as well and i’ve got videos all about how you can ensure you are among the people to actually earn money however in this situation make sure you research your risk level would you be fine 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 don’t pick someone who’s completely into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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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 actually use this too truly easily over here you can copy people now it will provide you a lot of options and you can utilize the system to really search for someone that you expensive really following so let’s see maybe we want somebody from joined kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually fulfilled that requirements and it does provide 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 clearly there are a variety of individuals that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 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 okay 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 really 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 great to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is good 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 an excellent spread in tech companies that appears to be what she chooses she’s also got a bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Firmo Etoro.
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