We get htis a lot on our site the answer to Etoro Vs Coinbase Vs Kraken….Questions that i hear from new financiers what if you’re brand new to investing you simply don’t want to choose what you actually want to invest and you want somebody to do it for you there’s just a number of ways that that can take place the first of all you can employ a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is naturally you can buy 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 keep in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get used to the structure of the site and after that 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 threat this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row buy these options due to the fact that you believe is the ideal 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 probably.
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well-known for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of options and generally 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 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 fees involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies 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 websites then may not charge you for actually buying and selling funds or etfs private commodities specific stocks.
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there’ll be costs on other parts perhaps 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 reveal you the fees with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with costs really important to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling fine so commission costs are complimentary however there are a number of other charges the first one is withdrawal fees so you can obviously put cash 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 but when you wish to withdraw your money so you offer 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 of course knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to remember the 2nd charge that i’ve discussed is that conversion cost now with you’re handling 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 perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 offer me us dollars rather you need to pay their fees now the excellent aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their site won’t certainly restrict you in any way however we need to be aware of 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is generally the difference that belongs to the investment platform between the buy rate and the sale 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 offer or purchase 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 charges is the distinction then actually to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you say all right well why does that occur it just 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 costs it’s generally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit cash now the last task is called an
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over night cost now this is actually essential if you’re in fact utilizing cfds yourself too an over night cost is when you’re not doing that buy offer transaction in the exact same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one take advantage of which implies you’re really purchasing the precise property rather than using take advantage of anyhow you will not get hit with these fees but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you go into the aid section this isn’t the over night fees 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 over night or you’re doing over weekends and that just applies as i stated to cfds there are some additional charges naturally depending on what you are purchasing also this is on your own so keep that in mind but full costs are completely within their help info all right and we spoke about in addition to totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of actually using these copy works they do not have any additional fees on top of the typical costs that
are there now what you require to keep in mind though is these potentially managed by other individuals completely or often have produced portfolios you have actually got a genuine individual doing the management you need to make sure you choose the individual that’s right for you much like any kind of work this is your financial possessions so we absolutely need to ensure it’s the ideal person for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different alternatives 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 means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio mimic as if you are utilizing 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 cash maybe this is a terrific alternative for you once again to test the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it obviously you may have lost out on gains and losses during that time obviously if you had invested your genuine cash it allows you to construct confidence understand 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 actually how to copy people and copy portfolios now here’s something to bear in mind before you choose somebody 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 indicate by that certainly 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 implies am i alright with possibly losing a great amount of this investment or gaining 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 people will lose cash but that similarly indicates they’ll lose at some time in their journey obviously individuals do make money also and i have actually got videos all about how you can ensure you’re one of the people to in fact make money but in this circumstance make certain you research study your threat level would you be alright providing your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re someone who isn’t wishing to be that risky don’t choose someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really utilize this too actually easily over here you can copy individuals now it will give you a great deal of options and you can utilize the system to actually look for someone that you fancy in fact following so let’s see perhaps we want someone from united kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has actually satisfied that requirements 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 certainly there are a variety of people that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four 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 after that you understand ask you to verify are you fine 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 really deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine actually that i invest in too which is excellent so actually for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Etoro Vs Coinbase Vs Kraken.
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