On this post you’ll find the answer to Myreadingmanga Etoro….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you really want to invest and you desire someone to do it for you there’s only a number of ways that that can take place the first of all you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can buy mutual funds specific 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 as well now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you in fact get utilized to the structure of the website and then 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 genuine companies if you select 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 just do something since that person has said they have actually made profit 14 months in a row purchase these choices due to the fact that you think is the best ones for you which 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 element that is most likely.
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popular for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really important you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero cost sites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 charges 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 best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs really crucial to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 in the future however when you wish to withdraw your money so you offer your shares you offer your products 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those alternatives 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 maybe even once a year when every six months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you sort 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 really giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say give me us dollars instead you have to pay their charges now the fantastic thing about though when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their site won’t definitely restrict you in any way nevertheless we have to know two other fees the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is generally the distinction that is part of the investment platform in between the buy rate and the sale 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 value 599 per share in tesla that really suggests that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread charges is the difference then really to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it which is how they make a little bit of money on those spread out costs it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit money now the last feat is called an
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overnight fee now this is actually essential if you’re actually utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer transaction in the exact same day all right there’s then an over night cost charged or even if you go from the friday to the monday before sailing 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 means you’re in fact buying the exact property rather than using utilize anyway you will not get hit with these costs however these fees 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 go into the help section this isn’t the overnight charges details 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 which just uses as i stated to cfds there are some added fees naturally depending on what you are buying also this is on your own so keep that in mind however full charges are entirely within their help details fine and we discussed along with free 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 everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really using these copy operates they do not have any extra fees on top of the normal costs that
are there now what you need to keep in mind though is these possibly managed by other individuals completely or sometimes have developed portfolios you’ve got a real person doing the management you need to make sure you pick the person that’s right for you similar to any kind of work this is your monetary assets so we absolutely need to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means i believe 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 charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a great option for you once again to evaluate the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe have fun with it certainly you might have missed out on gains and losses during that time obviously if you had invested your real money it permits you to construct self-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 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 make certain you comprehend what your threat profile is now what do i imply by that clearly 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 suggests am i okay with possibly losing a great quantity of this investment or acquiring as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money however that equally suggests they’ll lose at some time in their journey clearly people do earn money also and i’ve got videos everything about how you can ensure you are among the people to actually generate income but in this scenario make sure you research your risk level would you be fine offering your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more conventional etfs and index funds you may 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 really use this too truly quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to in fact look for somebody that you expensive in fact following so let’s see perhaps we want somebody from united kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has fulfilled that requirements and it does give you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to verify 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 instance ruby mza as an example you can really deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine really that i invest in too which is excellent so in fact for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production business as that. Myreadingmanga Etoro.
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