So today on Iwata well be talking about Etoro Buys Firmo….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you actually want to invest and you desire someone to do it for you there’s only a couple of ways that that can take place the first of all you can work with an investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are developed once 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 advanced you can do cfds which of course cfds are methods of investing
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with not in fact 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 use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option also 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 threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you which being said 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 aspect that is probably.
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well-known for it’s the choice to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included really important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee websites then might not charge you for in fact buying and selling etfs or funds individual products specific stocks.
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there’ll be charges on other parts maybe 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 costs with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly important to understand 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 totally free however there are a number of other charges the very first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity 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 ensure that i’m just withdrawing when i definitely need to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing however that is a fee to bear in mind the second cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists 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 provide me us dollars rather you have to pay their costs now the excellent feature of though when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website will not certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you
on is generally the distinction that becomes part of the investment platform between the buy rate and the sale 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 right now tesla’s dollar value 599 per share in tesla that really suggests that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say okay well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread costs it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit cash now the last feat is called an
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overnight cost now this is actually crucial if you’re really utilizing cfds yourself as well an over night charge is when you’re refraining from doing that buy offer deal in the exact same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which means you’re actually purchasing the specific property instead of using utilize anyhow you won’t get hit with these charges however these fees are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the aid section this isn’t the overnight fees information you can see exactly the breakdown and it’ll tell 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 uses as i stated to cfds there are some service charges of course depending on what you are buying as well this is on your own so keep that in mind however complete fees are entirely within their aid information all right and we discussed as well as 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 whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various ways of in fact utilizing these copy operates they don’t have any additional costs on top of the normal fees that
exist now what you need to bear in mind though is these potentially managed by other individuals totally or in some cases have actually developed portfolios you’ve got a genuine person doing the management you have to make sure you select the person that’s right for you similar to any profession this is your monetary properties so we definitely need to make sure it’s the best individual for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio simulate 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 fantastic alternative for you once again to test the theories okay you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe play with it certainly you might have missed out on gains and losses throughout that time naturally if you had actually invested your genuine money it enables you to build self-confidence comprehend 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind before you select 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 indicate by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just suggests am i okay with possibly losing an excellent amount of this investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally indicates they’ll lose eventually in their journey undoubtedly individuals do generate income also and i have actually got videos everything about how you can make sure you are among the people to in fact generate income however in this scenario make sure you research your risk level would you be alright giving your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wanting to be that dangerous do not pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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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 same with who you’re following now as i state you can really utilize this too really quickly over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to in fact look for somebody that you elegant in fact following so let’s see possibly we desire someone from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has satisfied that requirements and it does offer you a risk aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
remember it’s like anything to do with the news or forecasts of the future this does not imply 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 simple as clicking the copy button and off you go and then you understand ask you to confirm are you fine with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really investing in 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 great to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i buy too which is excellent so actually for me knowing what i like to purchase 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 prefers she’s also got a bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Buys Firmo.
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