We get htis a lot on our site the answer to Tom Heath Etoro….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply do not want to choose what you in fact want to invest and you want someone to do it for you there’s only a number of ways that that can occur the first of all you can hire an investment portfolio manager they’ll typically charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is of course 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 as well now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you in fact get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in 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 clearly your capital is at risk and we need to bear that in mind do not just do something because that person has stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which 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 belongs to social trading which is one element that is most likely.
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popular for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell 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 likewise cover is the charges involved truly vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for actually buying and selling etfs or funds specific products individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 know before you actually begin purchasing copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with fees really crucial to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell 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 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends totally how you’re investing but that is a cost to remember the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really 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 say offer me us dollars rather you need to pay their fees now the fantastic feature of however when you have actually converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site won’t definitely limit you in any way however we need to know two other fees the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you
on is generally the distinction that becomes part of the financial investment platform in between the buy rate and the list 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 value 599 per share in tesla that in fact indicates that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the current cost of tesla is the worth of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you each time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you state okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread charges it’s usually exceptionally small 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 accomplishment is called an
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overnight cost now this is actually important if you’re actually using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an overnight charge charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which implies you’re really buying the exact asset instead of using take advantage of anyway you won’t get hit with these fees but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s say if you enter into the aid area this isn’t the overnight fees info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some additional charges of course depending on what you are investing in also this is on your own so keep that in mind however complete fees are totally within their aid details alright and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of actually using these copy functions they don’t have any additional costs on top of the normal costs that
exist now what you need to remember though is these possibly managed by other people totally or often have created portfolios you have actually got a real individual doing the management you need to make sure you pick the person that’s right for you similar to any type of work this is your financial properties so we definitely require to make certain it’s the best individual for us before 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 choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i believe 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 imitate as if you are utilizing your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is a terrific option for you again to test the theories okay you might wish to buy tesla or apple or this etf why not use the virtual option as a way to kind of safe play with it undoubtedly you might have missed out on gains and losses during that time obviously if you had actually invested your genuine cash it allows you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy individuals 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 comprehend what your threat profile is now what do i suggest 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 okay with possibly losing a great amount of this investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash however that equally means they’ll lose at some point in their journey certainly people do earn money also and i’ve got videos all about how you can ensure you are among individuals to really generate income however in this circumstance ensure you research your threat level would you be okay offering your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re somebody who isn’t wishing to be that risky don’t pick someone who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you might 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 utilize this too really easily over here you can copy people now it will provide you a great deal of choices and you can utilize the system to really look for somebody that you elegant in fact following so let’s see possibly we desire somebody from united kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has met that criteria and it does provide you a danger factor too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
bear in mind it resembles 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 might make four or minus 50 there’s no 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 verify are you fine with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact buying 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 excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is great so actually for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production business as that. Tom Heath Etoro.
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