We get htis a lot on our site the answer to Add Group Greyed Out Thinkorswim….Questions that i hear from new financiers what if you’re brand new to investing you simply don’t wish to decide what you really wish to invest and you desire someone to do it for you there’s just a number of manner ins which that can take place the firstly you can hire an investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can buy 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 too now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that 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 consider that choice too so you in fact get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row purchase these options because you think is the ideal ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
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famous for it’s the alternative to see what other traders are doing incredible 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 suggests with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved truly important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real 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 charge websites then may not charge you for in fact buying and selling funds or etfs individual products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you actually start purchasing copy trading or copy portfolios and finally some best guidance 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 charges really crucial to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission costs are free however there are a number of other fees the very first one is withdrawal costs so you can certainly put cash in now if you’re 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 in the future but when you wish to withdraw your cash so you sell your shares you offer 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 knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say all right that’s quite expensive 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 simply among those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends entirely how you’re investing however that is a charge to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in 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 anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and state offer me us dollars rather you have to pay their fees now the fantastic thing about however when you have actually converted your cash you do not have 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 preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their site will not definitely limit you in any way nevertheless we have to know two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is basically the difference that is part of the investment platform between the buy rate and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that in fact implies that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the present rate of tesla is the value of a share what’s called spread fees is the distinction then in fact 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 each time you do a purchaser’s share so keep that in mind certainly 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 fine well why does that happen 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 wish to offer it which is how they make a little bit of cash on those spread fees it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a bit money now the last accomplishment is called an
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overnight cost now this is really essential if you’re really using cfds yourself as well an over night cost is when you’re not doing that buy sell transaction in the same day okay there’s then an over night charge charged or perhaps 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 actually buying out the etf the stock the product and using time one leverage which indicates you’re actually buying the precise possession rather than utilizing take advantage of anyhow you will not get hit with these fees however 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 say if you go into the assistance area this isn’t the overnight fees info you can see precisely the breakdown and it’ll tell 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 uses as i stated to cfds there are some service charges obviously depending upon what you are buying too this is on your own so keep that in mind however full costs are completely within their assistance info all right and we discussed in addition to complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really using these copy operates they do not have any extra charges on top of the normal costs that
exist now what you need to bear in mind though is these possibly managed by other individuals completely or often have developed portfolios you have actually got a genuine individual doing the management you have to make certain you pick the individual that’s right for you similar to any line of work this is your financial possessions so we absolutely require to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple 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 genuine cash or a virtual platform virtual ways 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 need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is an excellent alternative for you again to evaluate the theories fine you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you may have lost out on gains and losses during that time of course if you had invested your genuine money it enables you to construct confidence understand the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you select 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 indicate by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just means am i okay with possibly losing a great amount of this investment or acquiring as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money but that equally means they’ll lose eventually in their journey undoubtedly people do make money too and i’ve got videos all about how you can make certain you are among individuals to in fact make money however in this circumstance ensure you research your threat level would you be all right providing your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wishing to be that risky don’t choose somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you may 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 actually utilize this too actually quickly over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually look for someone that you fancy actually following so let’s see possibly we want somebody from joined kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has met that requirements and it does give you a risk factor too 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 individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply 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 simple as clicking the copy button and off you go and then you understand ask you to verify are you okay with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really 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 good to know ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is excellent so really for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Add Group Greyed Out Thinkorswim.
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