On this post you’ll find the answer to Pause Xooying Etoro….Questions that i speak with new financiers what if you’re brand new to investing you simply do not wish to decide what you actually wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can happen the to start with you can employ a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular funds are produced 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 rather advanced you can do cfds which obviously cfds are methods of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not simply assume 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 give that alternative too so you actually get used to the structure of the site 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 danger this is investing we’re doing you’re buying real 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 clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually said they’ve made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being stated let’s dive directly in [Music] so the 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 incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore 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 basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved really crucial you understand what are the costs of this now with any platform there will be some expense to clearly 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 some of the zero charge sites then may not charge you for in fact buying and selling funds or etfs specific commodities individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 before you in fact start buying copy trading or copy portfolios and lastly some best recommendations finest 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 comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission costs are free nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly put money in now if you’re 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 later on however when you wish to withdraw your money 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 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those options that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a cost to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually giving 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 instead you have to pay their costs now the great feature of though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good using that part of their website won’t certainly restrict you in any way however we have to know two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform in between the buy price and the price okay 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 value 599 per share in tesla that actually means that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to offer so they’re going to give 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 distinction in between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread out charges it’s normally incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last feat is called an
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overnight fee now this is actually important if you’re really using cfds yourself as well an overnight charge is when you’re refraining from doing that buy offer deal in the same day alright there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which implies you’re really purchasing the exact property instead of using take advantage of anyway you will not get hit with these charges however these costs are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the assistance section this isn’t the over night charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only uses as i stated to cfds there are some surcharges naturally depending upon what you are buying also this is on your own so keep that in mind however full charges are totally within their aid info alright and we talked about along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of really utilizing these copy works they don’t have any extra costs on top of the normal fees that
are there now what you need to keep in mind though is these potentially handled by other people entirely or sometimes have developed portfolios you have actually got a real person doing the management you need to ensure you choose the individual that’s right for you similar to any profession this is your monetary assets so we definitely need to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of various choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money 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 need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a fantastic alternative for you once again to check the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it undoubtedly you might have lost out on gains and losses during that time of course if you had actually invested your real cash it permits you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody 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 mean 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 risk simply indicates am i okay with possibly losing a good amount of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that equally suggests they’ll lose at some time in their journey certainly individuals do generate income too and i’ve got videos all about how you can make sure you’re one of the people to in fact generate income however in this scenario ensure you research study your threat level would you be okay offering your cash to somebody else which is efficiently what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky do not select somebody who’s completely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold or perhaps 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 state you can actually utilize this too truly easily over here you can copy individuals now it will provide you a great deal of choices and you can utilize the system to really search for someone that you elegant in fact following so let’s see maybe we want somebody from unified 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 good amount and i can discover everyone who has actually satisfied that requirements and it does offer you a danger aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have rather high returns
keep in mind it resembles 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 four or minus 50 there’s no 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 okay with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can really 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 good to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine actually that i buy too which is excellent so really for me knowing 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 also got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Pause Xooying Etoro.
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