We get htis a lot on our site the answer to Coinmama Vs Etoro Reddit….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you in fact wish to invest and you desire someone to do it for you there’s just a couple of ways that that can take place the firstly you can work with an investment portfolio manager they’ll typically 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 of course you can buy mutual funds particular funds are created 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 an overall please keep in mind this platform is quite sophisticated 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 discovering please do study the platform do not simply presume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that option also so you in fact get used to the structure of the website and then 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 risk this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row buy these choices due to the fact that you think is the ideal ones for you which being stated 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 element that is most likely.
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famous for it’s the option to see what other traders are doing unbelievable 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 cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included actually critical you understand what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for actually buying and selling etfs or funds individual products individual stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs really essential to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can obviously put cash 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 in the future but when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state okay that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to buy 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 anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 state offer me us dollars rather you need to pay their costs now the terrific feature of though when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread fee as i’m going to show you
on is essentially the difference that is part of the investment platform in between the buy cost and the price alright 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 really suggests that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the current cost of tesla is the value of a share what’s called spread costs is the difference then in fact to buy 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 clearly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you want to offer it and that is how they make a bit of cash on those spread out charges it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit cash now the last feat is called an
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over night cost now this is truly crucial if you’re really using cfds yourself too an over night charge is when you’re not doing that buy offer deal in the very same day alright there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re actually purchasing the specific asset rather than using take advantage of anyhow you will not get hit with these fees but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the help section this isn’t the over night costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends which just applies as i said to cfds there are some surcharges of course depending on what you are purchasing as well this is on your own so keep that in mind but complete charges are completely within their aid information fine and we discussed in addition to totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually using these copy operates they do not have any extra charges on top of the normal charges that
are there now what you require to keep in mind though is these potentially managed by other individuals completely or in some cases have actually produced portfolios you’ve got a real individual doing the management you have to make certain you pick the individual that’s right for you much like any kind of work this is your monetary properties so we definitely require to make certain it’s the best 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 couple of various 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 genuine money or a virtual platform virtual ways i believe 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 generally have this virtual portfolio mimic as if you are using your own money however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash possibly this is a great option for you again to test the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it clearly you might have missed out on gains and losses during that time naturally if you had invested your genuine money it allows you to build confidence understand the platform so that’s one alternative for you then next week and i’m going to go back 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 keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i suggest by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply implies am i okay with potentially losing a good quantity of this investment or getting as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the fact 75 people will lose cash however that equally indicates they’ll lose at some time in their journey clearly people do earn money too and i have actually got videos all about how you can make sure you are among the people to really earn money however in this scenario ensure you research study your risk level would you be all right offering your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky do not select somebody who’s completely into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact 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 offer you a lot of options 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 united kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everybody who has actually met that criteria and it does give you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly 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 mean somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to verify are you okay 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 actually deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly like kind 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 in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Coinmama Vs Etoro Reddit.
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