We get htis a lot on our site the answer to Binance Vs Etoro….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t wish to choose what you actually wish to invest and you desire someone to do it for you there’s only a number of ways that that can take place the to start with you can work with a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds specific 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 as well now if you’re brand new to a total please bear in mind this platform is quite sophisticated you can do cfds which of course 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 finding out about please do study the platform do not simply presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option 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 threat this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row invest in these options because you believe is the best ones for you and that being said let’s dive straight 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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well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each 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 investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included really important you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for really buying and selling funds or etfs specific products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 understand prior to you actually begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually crucial to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission fees are complimentary however there are a couple of other charges the very first one is withdrawal costs so you can obviously 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 but when you want to withdraw your money 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 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely 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 need to charge fees somewhere and withdrawal costs are just among those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great 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 open market anyone at all this is basic 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 wish to use their platform go from uk to us then that conversion charge is there what are they really offering 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 need to pay their costs now the excellent aspect of though when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that implies 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 additional charges so that’s actually excellent utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is basically the distinction that belongs to the investment platform between the buy price and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact suggests 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 existing price of tesla is the value of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you state fine 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 wish to sell it and that is how they make a bit of money on those spread out charges it’s usually incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit money now the last feat is called an
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overnight cost now this is really important if you’re actually using cfds yourself also an over night charge is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re in fact buying the specific possession rather than using take advantage of anyway you will not get hit with these charges however these costs are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you go into the aid area this isn’t the over night charges info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some service charges obviously depending on what you are purchasing also this is on your own so keep that in mind but full costs are entirely within their assistance information fine and we spoke about as well as complimentary to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of really using these copy works they do not have any extra charges on top of the typical charges that
are there now what you need to keep in mind though is these possibly managed by other individuals totally or sometimes have actually produced portfolios you’ve got a genuine person doing the management you need to make sure you pick the person that’s right for you much like any type of work this is your monetary properties so we absolutely require to ensure it’s the best individual 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 different options 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 cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are using your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a great alternative for you once again to evaluate the theories alright you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to type of safe have fun with it certainly you may have lost out on gains and losses during that time obviously if you had invested your real cash it permits you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose 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 investments the riskier you can be risk just means am i alright with possibly losing an excellent amount of this financial investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the fact 75 people will lose cash however that equally suggests they’ll lose eventually in their journey certainly individuals do make money also and i have actually got videos all about how you can make certain you are among individuals to actually make money but in this situation make sure you research your danger level would you be fine giving your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually use this too really quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to actually search for somebody that you elegant in fact following so let’s see perhaps we desire somebody from unified kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has actually met that criteria and it does provide you a risk aspect too 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 people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could 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 then you know ask you to verify are you fine 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 in fact deep dive into what is she actually 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 know ibm paypal yep she’s absolutely like type of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is great so in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Binance Vs Etoro.
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