So today on Iwata well be talking about Ellevest Vs Etoro Vs….Questions that i speak with brand-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 desire someone to do it for you there’s just a number of manner ins which that can happen the first of all you can employ a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular 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 too now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not just presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get utilized to the structure of the site and after that when you’re ready to utilize 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 genuine companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has actually said they have actually made revenue 14 months in a row buy these options since you think is the ideal ones for you which being said let’s dive directly 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 element that is most likely.
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popular for it’s the choice to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates 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 likewise cover is the charges included really critical you understand what are the expenses of this now with any platform there will be some cost 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 a few of the no fee websites then might not charge you for really buying and selling etfs or funds individual commodities private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling alright so commission costs are free however there are a number of other costs the first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk money.
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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 money so you offer your shares you sell 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 knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say 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 someplace and withdrawal costs are just among those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy 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 anyway 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 anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and say give me us dollars instead you have to pay their charges now the excellent feature of though when you’ve transformed your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates 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 truly excellent utilizing that part of their website won’t certainly restrict you in any way however we need to be aware of two other costs the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread cost as i’m going to show 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 website 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 price you’re seeing up here let me reveal you that again so the current cost of tesla is the worth of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you say alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction 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 out charges it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit cash now the last task is called an
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overnight cost now this is actually important if you’re really using cfds yourself as well an over night cost is when you’re refraining from doing that buy sell transaction in the exact same day okay there’s then an over night fee charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one take advantage of which suggests you’re in fact buying the precise asset rather than using utilize anyway you will not get hit with these charges but these costs are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you go into the help area this isn’t the overnight fees details you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some additional charges naturally depending upon what you are purchasing too this is on your own so keep that in mind however complete costs are completely within their assistance information fine and we spoke about along with 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 five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually utilizing these copy functions they don’t have any additional charges on top of the regular charges that
are there now what you need to keep in mind though is these possibly managed by other individuals completely or in some cases have actually produced portfolios you have actually got a genuine person doing the management you have to make sure you pick the person that’s right for you similar to any type of work this is your financial assets so we absolutely require to make certain 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 number of various options for us firstly if you’re brand new to investing i want to draw your attention to this within you have the option 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 will not require to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are using your own money however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is an excellent alternative for you once again to evaluate the theories all right you may wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it certainly you might have lost out on gains and losses throughout that time of course if you had actually invested your genuine money it enables you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i indicate by that undoubtedly 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 indicates am i alright with potentially losing a great amount of this financial investment or gaining as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 individuals will lose money however that equally implies they’ll lose at some point in their journey clearly people do make money also and i have actually got videos everything about how you can make sure you’re one of the people to actually make money however in this scenario make certain you research your danger level would you be all right offering your money to somebody else which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or perhaps 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 state you can in fact use this too actually easily over here you can copy individuals now it will provide you a great deal of options and you can use the system to in fact look for somebody that you elegant in fact following so let’s see perhaps we desire somebody from joined 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 good quantity and i can discover everybody who has fulfilled that requirements and it does give you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
bear in mind it resembles 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 four 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 then you understand ask you to verify are you alright with this and off you go now another method to really 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 purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s great to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine actually that i buy too which is great so in fact for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the type of main food business and you’ve got you know pharmaceutical and production business as that. Ellevest Vs Etoro Vs.
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