We get htis a lot on our site the answer to Danny Kenna Etoro….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply 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 firstly you can hire an investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular funds are created 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 too now if you’re brand new to an overall please remember this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash 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 buying genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has said they’ve made revenue 14 months in a row invest in these choices because you think is the best ones for you which 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 probably.
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famous for it’s the option to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell 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 also cover is the charges involved actually vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine companies 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 charge sites then may not charge you for really buying and selling funds or etfs individual products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges truly essential to comprehend 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 complimentary however there are a couple of other charges the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk money.
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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 wish to withdraw your money so you offer your shares you sell your products 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say 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 costs someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a charge to remember the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase 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 or perhaps 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 anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they really 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 fees now the fantastic thing about however when you have actually transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their site will not certainly limit you in any way however we have to understand 2 other fees the very first being what’s called spread fees fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is essentially the difference that belongs to the financial investment platform in between the buy rate and the sale price all right 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 worth 599 per share in tesla that really suggests that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me show 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 find this everywhere this is another way that they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to sell it and that is how they make a little bit of cash on those spread out fees it’s usually incredibly 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 bit money now the last task is called an
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overnight cost now this is truly crucial if you’re in fact utilizing cfds yourself as well an overnight fee is when you’re not doing that buy sell deal in the same day alright there’s then an overnight cost charged and even if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which indicates you’re actually purchasing the specific asset instead of using leverage anyway you won’t get hit with these fees however these charges are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you enter into the help section this isn’t the over night charges info you can see precisely 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 and that only uses as i said to cfds there are some surcharges naturally depending upon what you are investing in also this is on your own so keep that in mind however complete charges are entirely within their help details alright and we discussed in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of actually utilizing these copy operates they don’t have any extra charges on top of the regular fees that
exist now what you need to bear in mind though is these potentially managed by other people totally or in some cases have actually developed portfolios you’ve got a genuine person doing the management you need to make sure you choose the person that’s right for you just like any type of work this is your financial possessions so we absolutely require to make certain it’s the right person for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of various options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means 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 basically have this virtual portfolio mimic as if you are utilizing your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash possibly this is an excellent alternative for you again to evaluate the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe play with it certainly you may have lost out on gains and losses throughout that time obviously if you had invested your genuine money it allows you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i suggest by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i alright with possibly losing an excellent amount of this investment or gaining as
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well now remember everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money but that equally implies they’ll lose at some point in their journey clearly individuals do generate income as well and i’ve got videos everything about how you can ensure you are among the people to really earn money but in this situation make certain you research study your risk level would you be okay giving your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re someone 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 backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too actually quickly over here you can copy people now it will offer you a great deal of options and you can use the system to actually search for someone that you expensive actually following so let’s see possibly we want somebody from joined 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 quantity and i can discover everyone who has fulfilled that requirements and it does give you a danger element too 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 rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four 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 then you know ask you to validate are you fine with this and off you go now another method to really 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 investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is good so in fact for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s also got a little bit more um of the kind of primary food business and you have actually got you know pharmaceutical and production companies as that. Danny Kenna Etoro.
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