We get htis a lot on our site the answer to Icx Etoro….Concerns that i speak with brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you actually wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can occur the first off you can employ an investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are created 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 as well now if you’re brand new to an overall please bear in mind this platform is quite innovative you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row invest in these choices because you believe is the right ones for you and that being stated let’s dive straight in [Music] so 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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famous for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked 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 fees involved actually crucial 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 included and even a few of the absolutely no charge websites then might not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 before you in fact start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission fees are free however there are a number of other costs the first one is withdrawal fees so you can undoubtedly put cash 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 however when you want to withdraw your cash so you offer 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 five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms undoubtedly are complimentary 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 as soon as every 6 months you understand depends completely how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really 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 say give me us dollars instead you have to pay their charges now the fantastic thing about though when you’ve transformed your cash 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 implies the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread charge as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy price and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to offer or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the existing price of tesla is the value of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind obviously it’s more costly to purchase than it is to offer so they’re going to provide you less back with your sale and you say all right well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread out fees it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit money now the last feat is called an
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over night charge now this is really important if you’re actually using cfds yourself too an overnight cost is when you’re not doing that buy sell deal in the exact same day okay there’s then an over night charge charged and even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re actually purchasing the precise asset instead of using utilize anyway you won’t get hit with these costs however these charges are if you’re utilizing leverage and cfds and then 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 overnight fees info 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 over night or you’re doing over weekends and that only applies as i said to cfds there are some service charges of course depending upon what you are buying as well this is on your own so keep that in mind however complete costs are completely within their assistance information fine and we talked about in addition to complimentary to deposit in however there’s a five 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 cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of actually utilizing these copy works they don’t have any additional costs on top of the normal charges that
exist now what you require to bear in mind though is these possibly handled by other people totally or often have actually developed portfolios you’ve got a real person doing the management you need to make certain you pick the individual that’s right for you similar to any profession this is your monetary assets so we absolutely require to ensure it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash possibly this is a great choice for you once again to test the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it obviously you might have missed out on gains and losses during that time of course if you had actually invested your genuine money it enables you to develop confidence comprehend the platform so that’s one option 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 remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk 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 investments the riskier you can be run the risk of just indicates am i alright with possibly losing a good quantity of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that similarly indicates they’ll lose at some time in their journey obviously individuals do generate income as well and i’ve got videos everything about how you can make certain you are among the people to in fact make money but in this circumstance make sure you research your danger level would you be fine providing your money to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing completely if you’re someone who isn’t wishing to be that risky do not select somebody who’s entirely 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 even oil plus more conventional 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 actually utilize this too actually easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to actually look for someone that you expensive really following so let’s see possibly we desire someone from joined kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has actually fulfilled that criteria and it does provide you a danger element 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 number of people that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply someone 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 simple as clicking the copy button and off you go and then you know ask you to confirm are you fine with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really purchasing so let’s go 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 know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is good so really for me understanding what i like to invest in 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 prefers she’s likewise got a little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Icx Etoro.
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