We get htis a lot on our site the answer to Coinmama Vs Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply do not want to choose what you in fact wish to invest and you desire someone to do it for you there’s only a couple of manner ins which that can occur the first off you can employ an investment portfolio manager they’ll usually charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are developed 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 also now if you’re brand new to an overall please keep in mind this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform don’t just presume since 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 money they consider that alternative too so you really get used to the structure of the website and after that when you’re ready to use 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 genuine companies if you pick 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 danger and we have to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row purchase these choices since you think is the right ones for you and that being stated let’s dive straight 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 element that is most likely.
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well-known for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be mimicked 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 cash in so we’re going to also cover is the fees involved truly important you understand what are the costs of this now with any platform there will be some expense 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 a few of the absolutely no cost sites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
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there’ll be charges on other parts maybe 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 reveal you the charges 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 lastly some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs truly important to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling okay so commission charges are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can clearly put money in now if you’re 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 however when you wish 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 absolutely need to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those options that they have a great deal of platforms obviously 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 when every six months you know depends entirely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want 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 bargain with them you can’t go to the bank and say give me us dollars rather you have to pay their fees now the fantastic thing about though when you’ve transformed your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their site will not certainly limit you in any way however we need to know two other costs 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 reveal you
on is basically the distinction that belongs to 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 site right now tesla’s dollar value 599 per share in tesla that really suggests that when you want to sell or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread charges is the distinction then actually 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 profit from you every time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that occur it just 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 wish to sell it and that is how they make a bit of money on those spread charges it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit money now the last task is called an
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over night charge now this is truly important if you’re actually using cfds yourself as well an overnight fee is when you’re not doing that buy offer deal in the same day okay there’s then an over night cost charged or even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which means you’re really buying the specific asset instead of utilizing take advantage of anyway you won’t get hit with these fees but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the help area this isn’t the over night fees details 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 over night or you’re doing over weekends which just uses as i stated to cfds there are some surcharges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete charges are totally within their assistance details okay and we discussed as well as totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two different ways of really utilizing these copy works they do not have any extra charges on top of the normal costs that
exist now what you require to keep in mind though is these possibly handled by other individuals completely or sometimes have developed portfolios you’ve got a genuine individual doing the management you need to make sure you choose the individual that’s right for you just like any type of work this is your financial assets so we absolutely need to ensure it’s the ideal person for us prior to 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 various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money 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 need to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are using your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is a terrific choice for you once again to test the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe play with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had invested your genuine money it permits you to develop 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 people and copy portfolios now here’s something to remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i suggest by that clearly 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 run the risk of just suggests am i alright with possibly losing a great quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that equally implies they’ll lose at some point in their journey obviously people do generate income as well and i’ve got videos everything about how you can ensure you’re one of individuals to in fact make money but in this scenario make sure you research study your risk level would you be all right providing your cash to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s completely 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 may 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 truly quickly over here you can copy people now it will provide you a lot of options and you can use the system to really search for somebody that you elegant actually following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a good amount and i can find everybody who has actually met that requirements and it does provide you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other 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 confirm are you fine with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really buying 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 excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine really that i invest in too which is excellent so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production companies as that. Coinmama Vs Etoro.
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