We get htis a lot on our site the answer to Etoro Community Coin Of The Month….Concerns that i hear from new investors what if you’re brand new to investing you just do not wish to decide what you in fact wish to invest and you desire somebody to do it for you there’s just a number of ways that that can take place the first off you can employ a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific 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 too now if you’re brand new to an overall please bear in mind this platform is quite innovative you can do cfds which of course 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 assume 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 choice as well so you really 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 danger this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row purchase these choices because you think is the best ones for you which being said let’s dive directly 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 aspect that is probably.
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famous for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their 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 really vital you comprehend what are the costs of this now with any platform there will be some cost 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 a few of the zero charge sites then might not charge you for really buying and selling etfs or funds individual products individual 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 sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you actually begin purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges actually essential to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission charges are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state okay 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 just among those alternatives that they have a lot of platforms undoubtedly 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 6 months you understand depends completely how you’re investing but that is a cost to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’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 great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 give me us dollars instead you need to pay their fees now the excellent aspect of however when you’ve converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates 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 extra charges so that’s actually good utilizing that part of their site will not definitely restrict you in any way nevertheless we have to understand two other costs the first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform between the buy price and the list price fine 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 actually means that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing price of tesla is the worth of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you say okay well why does that happen it simply 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 want to sell it which is how they make a bit of money on those spread charges it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit cash now the last task is called an
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overnight charge now this is truly essential if you’re really utilizing cfds yourself also an over night charge is when you’re not doing that buy sell deal in the very same day all right there’s then an overnight charge charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which means you’re really purchasing the precise possession instead of using leverage anyhow you will not get hit with these charges however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the help area 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 charges then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges obviously depending upon what you are investing in too this is on your own so keep that in mind but complete charges are entirely within their assistance info alright and we discussed in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of really utilizing these copy functions they do not have any extra charges on top of the regular costs that
are there now what you require to remember though is these potentially handled by other individuals totally or sometimes have produced portfolios you’ve got a genuine person doing the management you have to make sure you choose the individual that’s right for you much like any line of work this is your monetary assets so we absolutely need to make sure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of various choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real 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 won’t need to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a fantastic option for you again to check the theories alright you may wish to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe have fun with it obviously you might have missed out on gains and losses during that time of course if you had actually invested your real money it enables you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i imply by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of just indicates am i okay with possibly losing an excellent amount 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 cash but that similarly indicates they’ll lose at some point in their journey undoubtedly people do make money also and i have actually got videos everything about how you can make certain you are among individuals to in fact earn money but in this circumstance make certain you research study your threat level would you be okay providing your cash to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous don’t choose somebody 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 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 same with who you’re following now as i state you can in fact use this too truly quickly over here you can copy people now it will give you a great deal of choices and you can use the system to actually search for someone that you fancy really following so let’s see maybe we want someone from united kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has actually fulfilled that requirements and it does give you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
bear in mind it’s like 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 ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to verify are you alright 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 in fact deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so actually for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got a good 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 business and you have actually got you know pharmaceutical and production companies as that. Etoro Community Coin Of The Month.
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