On this post you’ll find the answer to Why Don’t Use Copy Trader Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to choose what you really want to invest and you want someone to do it for you there’s only a number of ways that that can take place the first of all you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds specific funds are produced 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 quite innovative you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row purchase these choices due to the fact that you believe 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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famous for it’s the alternative to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for instance 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 also cover is the costs included really critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds private products individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees really important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission charges are totally free however there are a couple of other charges the first one is withdrawal fees so you can obviously put money in now if you remain 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 on however when you wish to withdraw your cash so you offer your shares you offer 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say okay that’s rather pricey 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 just one of those options that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a cost to keep in mind the second charge that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine 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 great 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 basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really 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 give me us dollars rather you have to pay their costs now the terrific aspect of however when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 additional charges so that’s really excellent utilizing that part of their website won’t certainly limit you in any way however we have to know 2 other fees the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to show you
on is essentially the difference that is part of the investment platform between the buy cost and the sale price okay 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 want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that again so the present 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 make money from you every time you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you say all right 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 and that is how they make a bit of cash on those spread fees it’s normally exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit cash now the last task is called an
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over night cost now this is truly essential if you’re really using cfds yourself too an over night cost is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an over night charge charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which implies you’re actually purchasing the exact asset rather than utilizing leverage anyhow you won’t get hit with these fees but these fees are if you’re utilizing leverage 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 help section this isn’t the overnight costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just uses as i said to cfds there are some additional charges naturally depending upon what you are purchasing also this is on your own so keep that in mind but complete fees are completely within their aid details all right and we discussed in addition to complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of actually using these copy operates they don’t have any additional fees on top of the regular costs that
are there now what you require to bear in mind though is these potentially managed by other individuals completely or in some cases have actually created portfolios you have actually got a real person doing the management you need to make certain you select the individual that’s right for you much like any type of work this is your monetary assets so we absolutely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option to invest real money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money perhaps this is a terrific choice for you once again to check the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it clearly you may have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money it allows you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine 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 prior to 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 mean by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk just implies am i fine with possibly losing a good amount of this financial investment or acquiring as
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well now remember everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash however that equally indicates they’ll lose eventually in their journey certainly individuals do make money too and i have actually got videos everything about how you can ensure you’re one of individuals to really make money but in this scenario ensure you research study your danger level would you be alright giving your money to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re someone who isn’t wanting to be that dangerous don’t pick someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too really quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to in fact look for someone that you fancy in fact following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has satisfied that criteria and it does give you a risk factor too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals 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 alright with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really investing in 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 good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is excellent so really 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 business that appears to be what she prefers she’s likewise got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production companies as that. Why Don’t Use Copy Trader Etoro.
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