We get htis a lot on our site the answer to Backtrader Etoro….Concerns that i hear from new investors what if you’re brand new to investing you just don’t want to choose what you really wish to invest and you desire someone to do it for you there’s only a number of manner ins which that can occur the first off you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 too now if you’re brand new to an overall please keep in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get utilized 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 purchasing real companies if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made earnings 14 months in a row invest in these options since you believe is the ideal ones for you and that being said 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’s part of social trading which is one aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved actually critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real business 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 charge websites then may not charge you for really buying and selling etfs or funds individual commodities private 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 kinds of fees 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 know prior to you actually begin purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling all right so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you’re 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 later on but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends completely how you’re investing however that is a fee to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact providing 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 provide me us dollars instead you have to pay their costs now the terrific thing about however when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 fees so that’s actually great using that part of their website won’t definitely limit you in any way nevertheless we need to be aware of two other charges the first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is basically the distinction that becomes part of the financial investment platform between the buy rate and the list price fine 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 value 599 per share in tesla that actually means that when you want to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread costs is the distinction then actually to purchase 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 purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state all right well why does that happen it just 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 wish to sell it which is how they make a little bit of money on those spread costs it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last accomplishment is called an
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over night cost now this is really essential if you’re really using cfds yourself also an over night fee is when you’re refraining from doing that buy sell deal in the same day okay there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which means you’re actually purchasing the specific possession rather than using leverage anyway you will not get hit with these fees but these costs are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the help section this isn’t the overnight fees info you can see exactly 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 which just uses as i said to cfds there are some surcharges obviously depending on what you are investing in too this is on your own so keep that in mind however complete charges are totally within their help details all right and we discussed along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of really utilizing these copy operates they do not have any additional charges on top of the typical fees that
exist now what you need to remember though is these potentially handled by other individuals completely or often have produced portfolios you’ve got a genuine person doing the management you need to ensure you pick the individual that’s right for you just like any kind of work this is your financial possessions so we definitely need to ensure it’s the right individual for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of different alternatives 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 means i think 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 generally have this virtual portfolio imitate as if you are using your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money perhaps this is a fantastic choice for you again to check the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe have fun with it obviously you may have lost out on gains and losses throughout that time obviously if you had actually invested your genuine money it enables you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real 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 prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand 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 risk simply implies am i fine with potentially losing a good quantity of this financial investment or gaining as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose money however that equally implies they’ll lose at some time in their journey undoubtedly people do generate income as well and i have actually got videos all about how you can make certain you’re one of individuals to really make money but in this circumstance ensure you research your danger level would you be okay giving your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re investing in totally if you’re someone who isn’t wishing to be that dangerous do not choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more standard 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 really utilize this too actually quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to really look for someone that you fancy really following so let’s see possibly we want somebody from unified kingdom um who buys let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has actually fulfilled that requirements and it does give you a risk factor also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to verify are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact 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 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 in fact that i purchase too which is excellent so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the type of primary food companies and you have actually got you know pharmaceutical and production business as that. Backtrader Etoro.
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