We get htis a lot on our site the answer to Etoro Tax Ireland….Questions that i hear from brand-new investors what if you’re brand new to investing you simply do not wish to choose what you in fact want to invest and you want someone to do it for you there’s just a number of manner ins which that can take place the first off you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds specific funds are developed 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 also now if you’re brand new to an overall please bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the best 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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popular for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for example 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 likewise cover is the charges included actually important you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 fee sites then might not charge you for actually buying and selling funds or etfs private commodities individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing 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 know before you really begin buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with fees really important to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling alright so commission costs are totally free however there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal 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 maybe even once a year once every six months you know depends completely how you’re investing but that is a charge to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that matches 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 fee now when you use anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually providing you in regards to 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 offer me us dollars rather you have to pay their fees now the fantastic aspect of however when you’ve converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their website won’t certainly restrict you in any way however we have to be aware of two other costs the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that is part of the investment platform in between the buy cost and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really suggests that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present rate of tesla is the worth of a share what’s called spread charges is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of money on those spread charges it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last accomplishment is called an
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overnight fee now this is actually important if you’re in fact utilizing cfds yourself as well an overnight fee is when you’re not doing that buy offer transaction in the very same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which implies you’re in fact purchasing the exact possession instead of using leverage anyway you won’t get hit with these fees however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you go into the aid area this isn’t the overnight charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some service charges naturally depending upon what you are buying too this is on your own so keep that in mind but complete costs are entirely within their aid info alright and we talked about in addition to complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of actually utilizing these copy functions they do not have any additional costs on top of the typical costs that
exist now what you need to keep in mind though is these possibly managed by other people completely or often have produced portfolios you have actually got a genuine person doing the management you need to make sure you pick the person that’s right for you much like any kind of work this is your financial possessions so we definitely require to ensure it’s the best 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 different options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money 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 will not need to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money however really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is a great alternative for you once again to evaluate the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe have fun with it undoubtedly you might have lost out on gains and losses during that time obviously if you had actually invested your real money it allows you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to go back 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 remember prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i imply by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just indicates am i alright with potentially losing an excellent amount of this investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that equally suggests they’ll lose at some time in their journey obviously individuals do make money as well and i’ve got videos everything about how you can make sure you are among the people to really make money however in this scenario make certain you research study your danger level would you be okay offering your cash to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in totally if you’re somebody who isn’t wanting to be that risky don’t pick somebody who’s completely into crypto or currency conversion think of 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 want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too truly quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to really search for somebody that you expensive in fact following so let’s see possibly we desire somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has actually fulfilled that criteria and it does give you a threat element as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of people that have rather 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 chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really 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 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 good so really 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 business that seems to be what she chooses she’s likewise got a bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Etoro Tax Ireland.
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