On this post you’ll find the answer to Wayne Ryan Etoro….Questions that i hear from 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 someone to do it for you there’s just a number of ways that that can happen the first of all you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are developed 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 as well now if you’re brand new to an overall please remember this platform is rather advanced you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t simply assume because 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 choice also so you really get used to the structure of the website and after that when you’re ready to use your own cash 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 business if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row buy these options because you believe is the ideal ones for you which being said let’s dive directly in [Music] The 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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well-known for it’s the choice to see what other traders are doing extraordinary we don’t usually 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 actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer 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 involved really important you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real companies 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 zero fee websites then may not charge you for really buying and selling funds or etfs individual commodities specific 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 charges 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 prior to you really start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees actually important to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling all right so commission costs are complimentary nevertheless 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 immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you sell 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply one of those alternatives that they have a lot of platforms certainly are complimentary 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 once every six months you know depends completely how you’re investing however that is a charge to remember the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i expect stuck to whatever cost 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 cost is there what are they in fact giving you in terms of 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 give me us dollars rather you have to pay their costs now the terrific thing about though when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their site will not definitely restrict you in any way nevertheless we need to be aware of two other charges the first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is generally the distinction that is part of the financial investment platform between the buy cost and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really indicates that when you wish to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind certainly it’s more expensive to buy than it is to offer so they’re going to offer you less back with your sale and you state all right well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread out costs it’s normally extremely little it could be a matter of pens matter of cents in there but 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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overnight cost now this is really important if you’re in fact using cfds yourself too an over night cost is when you’re refraining from doing that buy offer transaction in the same day okay there’s then an over night fee charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one utilize which suggests you’re really buying the specific possession instead of utilizing take advantage of anyhow you won’t get hit with these charges however these costs are if you’re utilizing utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s state if you enter into the aid area this isn’t the overnight costs info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges naturally depending on what you are purchasing too this is on your own so keep that in mind however full costs are completely within their help info fine and we discussed 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 everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of actually utilizing these copy operates they do not have any extra costs on top of the typical costs that
exist now what you require to keep in mind though is these potentially managed by other people totally or sometimes have produced portfolios you’ve got a real person doing the management you need to make sure you pick the person that’s right for you much like any kind of work this is your monetary assets so we definitely need 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 number of different options 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 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 basically have this virtual portfolio imitate as if you are using your own money but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is a fantastic option for you again to check the theories fine you might wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe have fun with it obviously you may have lost out on gains and losses throughout that time of course if you had actually invested your real money it enables you to construct self-confidence understand 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 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 ensure you understand what your risk profile is now what do i suggest 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 just implies am i okay with potentially losing a great amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally indicates they’ll lose at some point in their journey certainly individuals do generate income as well and i have actually got videos everything about how you can make certain you’re one of individuals to in fact generate income but in this scenario ensure you research your threat level would you be alright offering your cash to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a backbone of strong commodities
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too actually quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to actually look for someone that you elegant really following so let’s see perhaps we want somebody from unified 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 find everybody who has met that criteria and it does provide you a danger element as well 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 rather high returns
bear in mind 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 other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to validate are you all right with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really purchasing 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 absolutely like type of into those blue box and the tech market she’s got a few of mine actually that i buy too which is good so really for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the type of main food business and you’ve got you know pharmaceutical and production companies as that. Wayne Ryan Etoro.
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