We get htis a lot on our site the answer to Dylan Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply do not want to decide what you actually wish to invest and you desire someone to do it for you there’s just a couple of manner ins which that can take place the first off you can work with an investment portfolio supervisor they’ll usually 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 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 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 actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row invest in these options because you think is the right ones for you and that being said let’s dive straight 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 belongs to social trading which is one element that is probably.
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popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine companies 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 charge sites then may not charge you for really buying and selling funds or etfs private products individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 understand prior to you really begin purchasing copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really essential to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling all right so commission fees are complimentary nevertheless there are a couple of other costs the first one is withdrawal costs 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 later on but when you want to withdraw your cash so you offer 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those options 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 mostly it can be maybe even once a year when every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they actually giving you in terms of 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 give me us dollars instead you need to pay their fees now the great thing about however when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their site won’t definitely limit you in any way nevertheless we have to understand 2 other costs the first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread fee as i’m going to show you
on is basically the distinction that is part of the financial investment platform in between the buy rate and the list 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 worth 599 per share in tesla that actually suggests that when you wish to purchase or offer as you can see it’s not the price 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 distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind obviously it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you say all right well why does that happen it simply 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 offer it which is how they make a little bit of cash on those spread out fees it’s normally incredibly 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 bit cash now the last accomplishment is called an
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overnight charge now this is truly crucial if you’re in fact using cfds yourself also an over night charge is when you’re not doing that buy offer transaction in the very same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which suggests you’re really buying the specific possession instead of utilizing utilize anyway you will not get hit with these costs however these costs are if you’re using leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you enter into the assistance area this isn’t the overnight charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some service charges obviously depending upon what you are purchasing too this is on your own so keep that in mind but full costs are completely within their aid information all right and we talked about as well as complimentary to deposit in but 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 fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of really using these copy operates they don’t have any extra costs on top of the normal costs that
exist now what you require to remember though is these potentially handled by other individuals entirely or often have actually developed portfolios you’ve got a real person doing the management you need to make certain you select the person that’s right for you similar to any profession this is your financial possessions so we definitely require to ensure it’s the best 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 number of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own cash however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real money maybe this is an excellent choice for you once again to evaluate the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it certainly you might have missed out on gains and losses during that time of course if you had actually invested your real cash it allows you to build confidence understand the platform so that’s one choice for you then next week and i’m going to return 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 keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand 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 financial investments the riskier you can be risk just means am i all right with potentially losing an excellent quantity of this investment or getting as
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well now keep in mind everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 people will lose money however that similarly suggests they’ll lose at some point in their journey obviously individuals do earn money also and i have actually got videos all about how you can make sure you are among the people to in fact make money however in this circumstance ensure you research your risk level would you be okay offering your money to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that risky do not choose someone who’s totally 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 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 state you can actually use this too actually easily over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to really look for somebody that you expensive actually following so let’s see perhaps we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has actually satisfied that requirements and it does give you a threat element also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee 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 verify are you okay with this and off you go now another way 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 buying 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 great to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is good so actually for me understanding what i like to purchase my private 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 likewise got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Dylan Etoro.
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