So today on Iwata well be talking about Etoro And Tax Australia….Concerns that i speak with new investors what if you’re brand new to investing you just do not want to decide what you in fact wish to invest and you desire someone to do it for you there’s just a couple of manner ins which that can occur the to start with you can hire a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are developed 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 also now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which of course cfds are methods 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 simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row buy these choices because you believe is the best ones for you and that being stated let’s dive straight 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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popular for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that means 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 charges involved truly important you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business 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 might not charge you for in fact buying and selling etfs or funds private products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 know before you in fact start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs really important to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission charges are complimentary however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly 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 but when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state alright that’s rather costly 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 simply one of those options that they have a lot of platforms clearly are complimentary 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 understand depends completely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two open market anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 provide me us dollars rather you have to pay their costs now the great thing about though when you have actually converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other charges the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the difference that belongs to the investment platform in between the buy rate and the sale price alright 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 actually implies that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the present 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 discover this all over this is another way that they make a percentage of benefit from you each time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you state alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a bit of money on those spread out costs it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit money now the last accomplishment is called an
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overnight fee now this is truly important if you’re really utilizing cfds yourself too an over night fee is when you’re refraining from doing that buy offer transaction in the exact same day okay there’s then an overnight charge charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which implies you’re really buying the specific property rather than utilizing take advantage of anyhow you will not get hit with these fees however these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s state if you go into the assistance area 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 fees then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some service charges naturally depending upon what you are investing in as well this is on your own so keep that in mind but full charges are totally within their assistance info all right and we talked about along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of actually utilizing these copy functions they do not have any extra charges on top of the typical costs that
are there now what you require to keep in mind though is these possibly managed by other individuals entirely or in some cases have actually produced portfolios you have actually got a real person doing the management you need to make certain you select the person that’s right for you similar to any line of work this is your financial properties so we absolutely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are using your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is a terrific choice for you again to test the theories all right you might wish to buy tesla or apple or this etf why not use the virtual option as a way to kind of safe have fun with it obviously you might have lost out on gains and losses during that time naturally if you had actually invested your real cash it permits you to develop confidence understand the platform so that’s one choice 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 bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i indicate by that obviously 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 all right with possibly losing a good amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money however that equally suggests they’ll lose at some point in their journey certainly people do make money as well and i have actually got videos everything about how you can make sure you are among individuals to actually make money but in this circumstance make sure you research study your danger level would you be all right giving your money to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not choose someone who’s totally into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can actually use this too actually easily over here you can copy individuals now it will give you a lot of options and you can utilize the system to in fact search for somebody that you elegant actually following so let’s see possibly we desire someone from joined kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually met that criteria and it does offer you a threat 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 resembles anything to do with the news or forecasts 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 way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to verify are you all right 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 little bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is excellent so in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production business as that. Etoro And Tax Australia.
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