We get htis a lot on our site the answer to Etoro Cory Mitchell….Concerns that i hear from brand-new investors what if you’re brand new to investing you just don’t want 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 of all you can work with a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are developed once 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 too now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t just presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the ideal ones for you and that being said let’s dive straight in [Music] so the 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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famous for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial 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 really important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then might not charge you for really buying and selling funds or etfs specific products specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 actually begin purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly essential to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission charges are complimentary however there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk cash.
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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 money so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you may say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually offering 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 have to pay their fees now the great feature of however when you have actually transformed your money you do not have to invest it immediately that dollar value can being in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent utilizing that part of their website will not definitely limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is essentially the difference that is part of the financial investment platform between the buy cost 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 right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to purchase 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 value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you each time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction 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 out costs it’s normally extremely small 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 little bit money now the last feat is called an
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overnight cost now this is really crucial if you’re in fact using cfds yourself as well an over night cost is when you’re refraining from doing that buy sell transaction in the exact same day okay there’s then an over night fee charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which implies you’re really buying the precise asset instead of utilizing leverage anyway you will not get hit with these costs however these costs are if you’re utilizing take advantage of 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 go into the assistance section this isn’t the overnight costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some surcharges naturally depending upon what you are buying also this is on your own so keep that in mind but complete fees are totally within their help info all right and we spoke about in addition to free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of really using these copy functions they don’t have any additional fees on top of the normal fees that
are there now what you need to remember though is these potentially managed by other individuals totally or sometimes have actually produced portfolios you have actually got a real individual doing the management you have to make certain you select the person that’s right for you similar to any profession this is your financial possessions so we absolutely require to make sure 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 utilize this function we have actually got a couple of various options for us first of all 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 methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are using your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a terrific alternative for you again to test the theories okay you might want to buy tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it clearly you might have lost out on gains and losses during that time of course if you had invested your real cash it permits you to build confidence understand the platform so that’s one alternative for you then next week and i’m going to return 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 keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest by that undoubtedly 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 suggests am i okay with possibly losing an excellent amount of this investment or getting as
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well now remember everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash but that similarly suggests 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 certain you’re one of individuals to in fact make money but in this scenario make certain you research your risk level would you be all right offering your cash to somebody else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that risky do not pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may 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 really utilize this too actually quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to actually look for somebody that you expensive actually following so let’s see perhaps we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has actually met that criteria and it does give you a danger aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have quite high returns
remember 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 could make 4 or minus 50 there’s no other way to ensure 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 validate are you alright 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 purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. Etoro Cory Mitchell.
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