On this post you’ll find the answer to Monzo To Etoro….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to decide what you actually wish to invest and you desire somebody to do it for you there’s just a number of ways that that can take place the first off you can hire an investment portfolio manager they’ll usually charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 bear in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t simply presume since i use 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 too so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row invest in these options due to the fact that you think is the best ones for you and that being said let’s dive directly 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 element that is most likely.
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well-known for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests 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 fees included truly crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 a few of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally 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 begin with costs actually important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal fees so you can undoubtedly put cash 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 later however when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among 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 largely it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine 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 perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 free trade anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use 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 state offer me us dollars rather you need to pay their charges now the great thing about though when you have actually converted your cash 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 suggests 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 really excellent using that part of their website will not definitely restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the financial investment platform in between the buy cost and the price alright it’s their premium on doing both those 2 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 means that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the present cost of tesla is the worth of a share what’s called spread charges is the difference then really to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer 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 in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread fees it’s typically extremely little 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 money now the last accomplishment is called an
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over night cost now this is really essential if you’re really utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer deal in the very same day okay there’s then an overnight cost charged or even if you go from the friday to the monday prior to sailing 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 utilize which implies you’re actually buying the specific asset rather than utilizing leverage anyhow you won’t get hit with these charges however these charges are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you go into the help section this isn’t the over night fees info 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 over night or you’re doing over weekends and that only applies as i said to cfds there are some added fees obviously depending on what you are investing in too this is on your own so keep that in mind however complete costs are entirely within their assistance info all right and we spoke about as well as complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact utilizing these copy works they don’t have any additional charges on top of the typical fees that
exist now what you need to remember though is these potentially handled by other people totally or sometimes have created portfolios you have actually got a genuine individual doing the management you need to make sure you choose the individual that’s right for you just like any type 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 various choices 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 real 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 will not need to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is an excellent choice for you again to test the theories fine you might wish to purchase tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it clearly you may have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it enables you to build confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i imply by that obviously 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 indicates am i alright with possibly losing a great quantity of this financial investment or getting as
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well now remember whatever is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose cash but that equally suggests they’ll lose at some time in their journey certainly people do generate income too and i have actually got videos everything about how you can make certain you’re one of the people to in fact generate income but in this situation ensure you research study your danger level would you be fine giving your cash to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more traditional 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 say you can actually utilize this too really easily over here you can copy individuals now it will provide you a lot of options and you can use the system to really look for somebody that you fancy actually following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has actually fulfilled that requirements and it does provide you a risk factor too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
bear in mind it resembles 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 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 after that you understand ask you to validate are you all right 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 actually deep dive into what is she really purchasing 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 excellent to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. Monzo To Etoro.
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