We get htis a lot on our site the answer to Best Apps For Day Trading Bitcoin….Questions that i speak with new investors what if you’re brand new to investing you just don’t want to choose what you in fact want to invest and you desire somebody to do it for you there’s only a number of ways that that can occur the first off you can work with an investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 quite sophisticated 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 finding out about please do study the platform don’t just assume 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 also so you in fact get used to the structure of the website and then 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 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 undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has actually said they’ve made earnings 14 months in a row buy these choices since you believe is the ideal ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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famous for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of options and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really important you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine 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 no charge websites then may not charge you for really buying and selling etfs or funds specific commodities individual stocks.
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there’ll be charges 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 show you the charges with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with fees really crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission fees are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state alright 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 fees are just among those alternatives that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i suppose 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 charge is there what are they actually 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 state provide 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 right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests 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 extra charges so that’s truly good using that part of their website won’t definitely restrict you in any way however we need to be aware of two other fees the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is generally the difference that becomes part of the investment platform in between the buy cost and the list price okay 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 in fact suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present rate of tesla is the value of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this everywhere 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 certainly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you say all right well why does that happen it simply 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 and that is how they make a bit of cash on those spread out charges it’s usually incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit cash now the last feat is called an
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overnight charge now this is truly crucial if you’re actually using cfds yourself also an over night cost is when you’re not doing that buy offer deal in the same day all right there’s then an overnight cost charged and even 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 commodity and using time one take advantage of which means you’re really buying the precise possession rather than utilizing take advantage of anyhow you will not get hit with these charges however these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you go into the assistance area this isn’t the overnight costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some additional charges naturally depending upon what you are buying as well this is on your own so keep that in mind but complete charges are totally within their assistance info all right and we talked about along with totally free to deposit in however there’s a five dollar charge if you wish 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’ve said copy trading and copy portfolios are two different methods of really using these copy functions they do not have any extra fees on top of the regular fees that
are there now what you need to bear in mind though is these potentially managed by other people entirely or often have developed portfolios you’ve got a real individual doing the management you have to make certain you select the person that’s right for you much like any line of work this is your monetary assets so we absolutely need to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine 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 credit card information or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money perhaps this is a great choice for you once again to test the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it undoubtedly you might have missed out on gains and losses during that time naturally if you had actually invested your real money it enables you to build confidence understand the platform so that’s one alternative 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 remember before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i indicate by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i okay with potentially losing a great quantity of this investment or getting as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that equally means they’ll lose eventually in their journey clearly individuals do earn money also and i’ve got videos all about how you can make sure you’re one of the people to in fact earn money but in this situation make certain you research your threat level would you be fine offering your money to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re purchasing completely if you’re someone who isn’t wanting to be that risky don’t choose somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very 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 great deal of choices 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 someone from unified kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has actually met that criteria and it does offer you a risk 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 quite high returns
keep in mind it’s like 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 way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you okay 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 actually deep dive into what is she in fact investing in so let’s go 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 know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got some of mine really that i invest in too which is good so really for me understanding what i like to buy my private 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 also got a little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Best Apps For Day Trading Bitcoin.
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