We get htis a lot on our site the answer to Sipp Etoro….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t want to decide what you in fact wish to invest and you desire someone to do it for you there’s only a number of manner ins which that can take place the to start with you can hire an investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are produced again with an account manager 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 a total please remember this platform is rather 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 do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row purchase these choices since you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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famous for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their 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 costs included really critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee 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 costs 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 show you the charges with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges truly important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling all right so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly put cash in now if you remain 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 later however when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those options that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a fee to remember the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’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 good 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 2 open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving 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 need to pay their costs now the terrific feature of however when you’ve transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good using that part of their website will not certainly restrict you in any way however we need to understand two other fees the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you
on is generally the distinction that is part of the financial investment platform between the buy rate and the list price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really means that when you wish to purchase or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread charges is the distinction then really to buy that share on the platform and you’ll discover this all over 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 costly to buy than it is to offer so they’re going to give you less back with your sale and you state fine well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread fees it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit money now the last accomplishment is called an
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overnight fee now this is actually important if you’re really using cfds yourself too an overnight charge is when you’re not doing that buy sell deal in the exact same day fine there’s then an overnight cost charged and even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which means you’re really buying the exact possession rather than using utilize anyhow you will not get hit with these charges but these fees 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 enter into the assistance section this isn’t the overnight fees information you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some added fees of course depending upon what you are investing in also this is on your own so keep that in mind however complete costs are totally within their aid details fine and we discussed in addition to free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different methods of in fact utilizing these copy operates they do not have any extra charges on top of the normal costs that
are there now what you need to keep in mind though is these possibly managed by other individuals completely or often have developed portfolios you’ve got a genuine person doing the management you have to make sure you pick the person that’s right for you much like any type of work this is your monetary properties so we absolutely need to make certain it’s the ideal person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of different alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative 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 need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own cash however really buy 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 an excellent alternative for you again to check the theories fine you might wish to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it obviously you may have missed out on gains and losses during that time naturally if you had invested your genuine cash it allows you to develop confidence understand 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 people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i mean by that clearly 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 risk simply means am i fine with potentially losing a good amount of this investment or gaining as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 people will lose money however that similarly means they’ll lose at some point in their journey obviously individuals do earn money also and i’ve got videos everything about how you can make sure you’re one of individuals to in fact generate income however in this situation make certain you research your danger level would you be alright giving your cash to somebody else which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 say you can actually utilize this too actually easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to actually search for somebody that you elegant really following so let’s see possibly we desire someone from united kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has actually satisfied that criteria and it does offer you a danger element as well so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to confirm are you fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine really that i invest in too which is great so really for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the sort of primary food companies and you have actually got you understand pharmaceutical and production companies as that. Sipp Etoro.
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