On this post you’ll find the answer to George Thomson Etoro….Questions that i hear from new financiers what if you’re brand new to investing you merely don’t wish to decide what you really want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the firstly you can work with a financial investment portfolio supervisor they’ll typically charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds particular 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 also now if you’re brand new to a total please remember this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually stated they have actually made revenue 14 months in a row buy these choices because you think is the ideal ones for you and that being stated 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 belongs to social trading which is one aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked 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 also cover is the costs included truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then might not charge you for actually buying and selling etfs or funds specific products specific 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 kinds of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees really essential to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 cash so you sell your shares you offer your commodities whatever you’re selling 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 knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply among those choices that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a fee to remember the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that suits 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 good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering 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 give me us dollars instead you need to pay their charges now the great aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests 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 fees so that’s truly great using that part of their site will not definitely restrict you in any way nevertheless we have to know two other fees the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform in between the buy rate and the list 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 in fact suggests that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy 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 each time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a bit of cash on those spread out charges it’s normally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit money now the last task is called an
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over night fee now this is really essential if you’re actually utilizing cfds yourself as well an overnight cost is when you’re not doing that buy sell transaction in the very same day all right there’s then an overnight cost charged and even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re actually purchasing the specific possession rather than utilizing leverage anyway you will not get hit with these charges 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 very same day so let’s state if you enter into the help area this isn’t the overnight fees info you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges naturally depending upon what you are investing in also this is on your own so keep that in mind however full charges are totally within their assistance information fine and we discussed as well as complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of really using these copy works they do not have any additional charges on top of the regular fees that
are there now what you need to remember though is these possibly managed by other people entirely or sometimes have actually produced portfolios you’ve got a real individual doing the management you have to ensure you select the person that’s right for you similar to any kind of work this is your monetary possessions so we absolutely require to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different alternatives for us first off if you’re brand new to investing i wish 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 play with and it’s not real cash that you’re investing you will not require 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 fantastic choice for you again to test the theories fine you may wish to buy tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it obviously you might have missed out on gains and losses throughout that time of course if you had 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 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 select somebody 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 mean by that certainly 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 simply suggests am i alright with possibly losing a great amount of this investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly indicates they’ll lose eventually in their journey obviously individuals do earn money as well and i’ve got videos all about how you can make sure you are among the people to in fact make money however in this scenario ensure you research study your danger level would you be all right providing your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous don’t select somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more standard 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 really utilize this too really quickly over here you can copy individuals now it will give you a lot of options and you can use the system to actually look for somebody that you elegant in fact following so let’s see maybe we desire somebody from unified kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has actually fulfilled that criteria and it does offer you a risk aspect 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 number of people 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 could make 4 or minus 50 there’s no other 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 know ask you to confirm are you okay 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 really buying 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 great to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is great so really 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 chooses she’s also got a bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production business as that. George Thomson Etoro.
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