We get htis a lot on our site the answer to Etoro Asic Suitability Test Answers….Concerns that i hear from brand-new financiers what if you’re brand new to investing you merely do not want to decide what you really want to invest and you desire somebody to do it for you there’s only a number of ways that that can occur the first of all you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 sophisticated you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you in fact 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 obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
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popular for it’s the option to see what other traders are doing unbelievable we do not usually 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 really state i want to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then may not charge you for really buying and selling funds or etfs private products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you actually begin buying copy trading or copy portfolios and lastly some best advice best 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 actually important to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those choices that they have a great deal of platforms obviously are complimentary 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 once every 6 months you know depends completely how you’re investing however that is a cost to bear in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
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a great deal 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 cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have 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 fee exists what are they in fact 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 offer me us dollars rather you have to pay their fees now the terrific aspect of however when you have actually 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 means the preliminary day that you buy or transform 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 good utilizing that part of their site will not definitely restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform between the buy rate and the price okay 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 value 599 per share in tesla that actually suggests that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase 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 great deal 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 little bit of money on those spread fees it’s generally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit cash now the last task is called an
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over night fee now this is really essential if you’re actually utilizing cfds yourself too an over night cost is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an overnight fee 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 in fact buying out the etf the stock the commodity and using time one leverage which indicates you’re really buying the precise property rather than utilizing utilize anyway you won’t get hit with these fees however these fees are if you’re utilizing leverage and cfds and after that you’re going to have these fees 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 overnight charges details 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 which just applies as i said to cfds there are some surcharges naturally depending on what you are investing in too this is on your own so keep that in mind but complete costs are totally within their aid info okay and we discussed as well as totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity 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 different ways of in fact utilizing these copy works they do not have any extra costs on top of the typical charges that
are there now what you need to keep in mind though is these potentially managed by other people entirely or in some cases have created portfolios you’ve got a real individual doing the management you have to make certain you choose the person that’s right for you just like any line of work this is your monetary properties so we definitely need to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various alternatives 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 cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are using your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a great option for you again to evaluate the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe play with it undoubtedly you might have missed out on gains and losses throughout that time of course if you had actually invested your real money it allows you to develop confidence comprehend 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 really how to copy people and copy portfolios now here’s something to bear in mind 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 mean by that undoubtedly 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 simply indicates am i alright with possibly losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 people will lose cash but that similarly means they’ll lose at some time in their journey certainly individuals do earn money also and i have actually got videos all about how you can ensure you’re one of individuals to really generate income but in this circumstance make sure you research your threat level would you be alright offering your money to another person which is efficiently what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re somebody who isn’t wanting to be that risky do not select someone who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 really utilize this too truly easily over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to really search for someone that you elegant really following so let’s see possibly we desire someone from united kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everyone who has satisfied that requirements and it does give you a risk element as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly 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 mean someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you alright with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually 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 great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is excellent so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good 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 business and you have actually got you understand pharmaceutical and production business as that. Etoro Asic Suitability Test Answers.
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