On this post you’ll find the answer to Martin Lewis Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you actually wish to invest and you desire someone to do it for you there’s just a couple of ways that that can occur the first off you can hire a financial investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced once 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 keep in mind this platform is rather sophisticated you can do cfds which of course cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not just assume due to the fact that 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 alternative as well so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the best ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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famous for it’s the option to see what other traders are doing unbelievable we do not normally 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 money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates 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 fees involved actually vital you comprehend 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 buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds private commodities specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you really start purchasing 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 kick off with costs actually important to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling alright so commission fees are totally free however there are a couple of other costs the very first one is withdrawal costs so you can obviously put money 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 offer 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 knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends totally how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have 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 say provide me us dollars rather you have to pay their costs now the great thing about though when you’ve transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their website will not certainly restrict you in any way nevertheless we have to be aware of two other fees the very first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you
on is essentially the difference that belongs to the investment platform between the buy rate and the list price all right 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 worth 599 per share in tesla that in fact indicates that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing price of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state alright 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 want to offer it which is how they make a little bit of cash on those spread costs it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit money now the last feat is called an
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overnight charge now this is actually essential if you’re in fact utilizing cfds yourself too an over night fee is when you’re refraining from doing that buy offer deal in the exact same day alright there’s then an overnight charge charged and even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which suggests you’re actually buying the specific property rather than using leverage anyway you won’t get hit with these costs however these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the assistance area this isn’t the overnight fees information 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 over night or you’re doing over weekends which just applies as i said to cfds there are some added fees obviously depending upon what you are buying as well this is on your own so keep that in mind but full fees are entirely within their assistance information all right and we spoke about in addition to complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of really using these copy operates they don’t have any extra fees on top of the normal charges that
are there now what you need to bear in mind though is these potentially handled by other individuals completely or in some cases have actually created portfolios you have actually got a real individual doing the management you need to ensure you choose the individual that’s right for you just like any line of work this is your monetary assets so we absolutely require to make certain it’s the best individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of different options 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 cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun 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 imitate as if you are using your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent choice for you once again to check the theories okay you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe play with it clearly you might have missed out on gains and losses during that time obviously if you had invested your genuine cash it enables you to construct 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 actually how to copy people and copy portfolios now here’s something to bear in mind prior to you choose someone 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 indicate by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i fine with potentially losing a great quantity of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash however that similarly suggests they’ll lose at some point in their journey clearly people do generate income as well and i’ve got videos everything about how you can make sure you’re one of individuals to actually earn money however in this circumstance make sure you research study your danger level would you be alright offering your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that risky do not choose someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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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 exact same with who you’re following now as i say you can actually utilize this too truly quickly over here you can copy people now it will give you a lot of choices and you can use the system to in fact look for someone that you elegant actually following so let’s see perhaps we want someone from united kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has fulfilled that requirements and it does provide you a risk aspect 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 individuals that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to ensure 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 verify are you all right with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually investing in 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 good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is great so actually for me understanding what i like to buy my individual 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 little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Martin Lewis Etoro.
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