We get htis a lot on our site the answer to Compare Etoro And Ig….Questions that i speak with 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 want someone to do it for you there’s only a number of manner ins which that can happen the to start with you can hire an investment portfolio manager they’ll normally 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 purchase mutual funds specific funds are developed 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 a total please bear in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just assume since i utilize 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 also so you actually get utilized 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 buying real companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which being stated 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 becomes 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 extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included actually important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee sites then might not charge you for in fact buying and selling funds or etfs individual commodities specific 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 kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and lastly 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 start with fees really crucial to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling okay so commission costs are free however there are a number of other charges the first one is withdrawal fees so you can clearly put cash 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 in the future but when you want to withdraw your cash so you sell your shares you sell your commodities 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those alternatives 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 once every six months you understand depends entirely how you’re investing however that is a charge to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really 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 give me us dollars instead you need to pay their charges now the excellent aspect of though when you’ve converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial 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 fees so that’s really good using that part of their website won’t definitely restrict you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread costs alright 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 difference that becomes part of the investment platform between the buy cost and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that in fact implies that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you state okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to offer it which is how they make a little bit of cash on those spread charges it’s generally incredibly small it could be a matter of pens matter of cents in there however 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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over night fee now this is actually important if you’re actually utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell transaction in the exact same day alright there’s then an over night charge charged and even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re in fact buying the exact possession rather than using utilize anyhow you won’t get hit with these charges however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you enter into the assistance area this isn’t the overnight fees information 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 and that only applies as i said to cfds there are some added fees obviously depending on what you are investing in as well this is on your own so keep that in mind however full costs are totally within their aid information alright and we talked about as well as totally free to deposit in however 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 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of really using these copy operates they don’t have any additional fees on top of the regular costs that
are there now what you need to remember though is these possibly managed by other people entirely or sometimes have created portfolios you have actually got a real person doing the management you have to make sure you select the individual that’s right for you much like any type of work this is your financial possessions so we definitely require to make certain it’s the right individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio mimic as if you are utilizing your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a great option for you once again to check the theories okay you might wish to buy tesla or apple or this etf why not use the virtual alternative as a method to kind of safe play with it obviously you might have lost out on gains and losses during that time of course if you had invested your real cash it enables you to construct self-confidence comprehend the platform so that’s one option 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 remember before you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk 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 run the risk of just implies am i fine with potentially losing a great amount of this investment or getting as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money but that similarly indicates they’ll lose at some time in their journey undoubtedly people do earn money as well and i have actually got videos all about how you can make sure you’re one of individuals to actually generate income but in this situation make sure you research study your risk level would you be fine giving your money to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky don’t pick someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more conventional 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 say you can actually utilize this too truly easily over here you can copy individuals now it will offer you a lot of options and you can use the system to really search for somebody that you expensive in fact following so let’s see maybe we want someone from unified kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everybody who has satisfied that criteria and it does provide you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions 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 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 confirm are you all right 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 really deep dive into what is she actually purchasing so let’s go 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 absolutely like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is good 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 a great spread in tech companies that appears to be what she chooses she’s also got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Compare Etoro And Ig.
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