On this post you’ll find the answer to How To Link Edgewonk To Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to choose what you really wish to invest and you desire somebody to do it for you there’s just a number of manner ins which that can take place the firstly you can employ a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course 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 too now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can use it right now 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 use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being said 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 aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do exactly what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then may not charge you for actually buying and selling funds or etfs private commodities 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 understand before you actually begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really essential to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those options that they have a great deal 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 once every 6 months you understand depends completely how you’re investing but that is a cost to remember the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits 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 charge now when you utilize anyone so if you’re utilizing trading two and two open market anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually providing 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 say provide me us dollars instead you have to pay their charges now the great feature of however when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 using that part of their site will not definitely limit you in any way however we have to know 2 other costs the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the investment platform between the buy rate and the sale price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that really means that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the present price of tesla is the value of a share what’s called spread fees is the difference then in fact 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 benefit from you each time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state fine well why does that occur 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 offer it which is how they make a bit of money on those spread charges it’s typically exceptionally 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 charge now this is actually important if you’re really utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell deal in the same day all right there’s then an over night fee charged and even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which suggests you’re in fact purchasing the exact property instead of using utilize anyhow you will not get hit with these charges but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you enter into the assistance section this isn’t the over night costs info 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 over night or you’re doing over weekends and that just applies as i stated to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete costs are entirely within their help information all right and we spoke about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular 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 two different methods of really utilizing these copy operates they don’t have any extra costs on top of the normal costs that
are there now what you require to bear in mind though is these potentially managed by other individuals entirely or sometimes have actually developed portfolios you’ve got a genuine individual doing the management you have to ensure you pick the individual that’s right for you much like any line of work this is your monetary possessions so we absolutely require to make sure it’s the ideal person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of various choices for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i think 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 credit card information or anything you can basically have this virtual portfolio mimic as if you are using your own money but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a fantastic alternative for you again to test the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it certainly you may have lost out on gains and losses throughout that time of course if you had actually invested your genuine cash it enables you to build confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i mean by that obviously 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 just means am i fine with possibly losing a good amount of this investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose money however that similarly implies they’ll lose at some point in their journey certainly individuals do make money as well and i have actually got videos all about how you can make sure you are among the people to really make money however in this situation ensure you research study your threat level would you be okay giving your money to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold and even oil plus more conventional 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 state you can really use this too really quickly over here you can copy people now it will give you a lot of options and you can use the system to actually search for somebody that you elegant actually following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everyone who has actually satisfied that criteria and it does give you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you all right with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s go 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 understand ibm paypal yep she’s definitely like type 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 really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of main food companies and you’ve got you know pharmaceutical and production companies as that. How To Link Edgewonk To Etoro.