On this post you’ll find the answer to W 8Ben Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t 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 take place the first off you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds specific funds are created 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 also now if you’re brand new to a total please remember this platform is rather advanced you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the site and then when you’re ready to use your own cash 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 select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they’ve made profit 14 months in a row invest in these options since you believe is the ideal ones for you which being said let’s dive directly 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’s part of social trading which is one aspect that is probably.
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famous for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 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 also cover is the costs included truly vital you understand what are the costs of this now with any platform there will be some cost to certainly 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 some of the zero charge sites then might not charge you for really buying and selling funds or etfs individual commodities individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 before you actually begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually important to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine so commission fees are totally free however there are a number of other costs the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 on but when you want to withdraw your money so you offer your shares you offer your commodities 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing however that is a fee to bear in mind the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that matches 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 excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i suppose stuck to whatever fee 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 charge is there what are they actually 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 terrific feature of however when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their website will not certainly limit you in any way however we need to know 2 other costs the first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy rate and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that actually suggests that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the present rate of tesla is the value of a share what’s called spread charges is the difference then really 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 every time you do a buyer’s share so keep that in mind certainly it’s more expensive 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 happen it just 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 sell it which is how they make a bit of cash on those spread out fees it’s usually incredibly 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 bit money now the last task is called an
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over night charge now this is truly crucial if you’re really utilizing cfds yourself also an overnight fee is when you’re refraining from doing that buy offer transaction in the exact same day okay there’s then an overnight charge charged and even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re in fact purchasing the specific possession rather than using leverage anyway you will not get hit with these charges however these costs 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 exact same day so let’s say if you go into the assistance section this isn’t the over night costs details you can see precisely 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 and that just applies as i said to cfds there are some service charges of course depending upon what you are buying as well this is on your own so keep that in mind however full fees are totally within their assistance details fine and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of in fact using these copy works they don’t have any additional fees on top of the regular costs that
are there now what you need to keep in mind though is these possibly handled by other individuals totally or sometimes have developed portfolios you have actually got a real individual doing the management you have to ensure you pick the person that’s right for you much like any kind of work this is your financial possessions so we definitely require to make sure it’s the best person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative 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 won’t require to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash but actually 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 choice for you again to test the theories fine you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to sort of safe play with it undoubtedly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it enables you to develop self-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 in fact how to copy individuals and copy portfolios now here’s something to bear 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 danger profile is now what do i indicate 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 just means am i all right with possibly losing a good quantity of this investment or gaining as
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well now remember everything is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money but that equally implies they’ll lose at some time in their journey undoubtedly people do make money too and i’ve got videos all about how you can make sure you are among individuals to really generate income however in this situation make sure you research your risk level would you be okay offering your cash to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may 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 in fact use this too really easily over here you can copy people now it will offer you a lot of choices and you can use the system to in fact search for someone that you expensive really following so let’s see maybe we want somebody from joined kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great amount and i can find everyone who has actually fulfilled that requirements and it does offer you a risk factor also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have quite 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 might make 4 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 know ask you to validate are you okay with this and off you go now another way to actually deep dive if we click on 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 little bit so that’s excellent to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so really for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production business as that. W 8Ben Etoro.
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