We get htis a lot on our site the answer to Etoro New York….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to decide what you actually want to invest and you want someone to do it for you there’s only a couple of ways that that can occur the first off you can hire an investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are produced 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 keep in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option also so you actually get used to the structure of the website and after that 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 purchasing real 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 certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row purchase these choices because you think is the ideal ones for you which 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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well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for instance 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 included really crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are real business 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 zero cost sites then may not charge you for in fact buying and selling funds or etfs specific commodities private 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 type of costs associated so do your due diligence and i’m going to show you the charges 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 suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with fees really crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling alright so commission fees are totally free however there are a couple of other costs the first one is withdrawal costs so you can obviously put money in now if you remain 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 later on however when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering 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 make sure that i’m just withdrawing when i absolutely need to now you may say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative 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 anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state provide me us dollars instead you have to pay their charges now the terrific feature of though when you have actually converted 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 indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website won’t certainly restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is basically the distinction that belongs to the financial investment platform in between the buy price and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really implies that when you wish to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread charges is the difference then actually to purchase 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 certainly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you say fine well why does that happen 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 want to sell it which is how they make a little bit of cash on those spread out fees it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last accomplishment is called an
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over night cost now this is really important if you’re actually utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy sell transaction in the very same day okay there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re in fact buying the precise asset instead of utilizing take advantage of anyway you won’t get hit with these charges but these fees are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you enter into the assistance area this isn’t the overnight fees info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some added fees obviously depending on what you are investing in too this is on your own so keep that in mind however full costs are totally within their help details okay and we discussed along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever 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 different methods of really using these copy operates they don’t have any additional costs on top of the regular fees that
exist now what you require to keep in mind though is these possibly managed by other people entirely or in some cases have produced portfolios you have actually got a real person doing the management you need to make certain you select the person that’s right for you just like any line of work this is your financial properties so we absolutely require to make certain it’s the right individual 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 couple of different options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods 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 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 but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money perhaps this is a great option for you again to test the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe play with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had actually invested your genuine money it enables you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back 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 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 risk profile is now what do i suggest by that certainly 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 run the risk of simply suggests am i all right with potentially losing an excellent amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money but that equally means they’ll lose eventually in their journey obviously people do generate income also and i’ve got videos everything about how you can make certain you’re one of the people to really earn money but in this circumstance make certain you research your danger level would you be okay offering your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re somebody who isn’t wishing to be that risky don’t select someone who’s totally into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really use this too actually quickly over here you can copy individuals now it will provide you a lot of options and you can utilize the system to in fact search for somebody that you expensive really following so let’s see maybe we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has actually satisfied that criteria and it does give you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
remember it’s like 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 way to ensure so do keep that in mind and as easy 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 this person for instance ruby mza as an example you can really 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 excellent to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is great so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production companies as that. Etoro New York.
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