We get htis a lot on our site the answer to Can You Trade Bitcoin On Thinkorswim….Questions that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you want somebody to do it for you there’s just a couple of ways that that can take place the to start with you can employ a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are produced 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 as well now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which obviously cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row purchase these choices because you believe is the right ones for you and that being said let’s dive straight in [Music] 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 probably.
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popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for example 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 costs included truly vital you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 sites then may not charge you for in fact buying and selling etfs or funds specific products private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 buying copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling all right so commission charges are complimentary however there are a couple of other charges the first one is withdrawal fees 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 instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer your shares you sell your commodities 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’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 or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there 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 offer me us dollars instead you need to pay their costs now the excellent thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 really great utilizing that part of their site will not definitely limit you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy price and the list price alright 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 worth 599 per share in tesla that in fact indicates that when you wish to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the existing cost of tesla is the worth of a share what’s called spread charges is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you whenever you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that occur it just 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 which is how they make a bit of cash on those spread charges it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit cash now the last accomplishment is called an
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overnight cost now this is really crucial if you’re really utilizing cfds yourself as well an overnight fee is when you’re not doing that buy sell transaction in the very same day all right there’s then an over night cost charged or perhaps if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which implies you’re actually buying the precise asset instead of utilizing utilize anyway you will not get hit with these fees however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the assistance section this isn’t the over night costs info you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some service charges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete charges are completely within their help information all right and we discussed 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 normal commodity stock shares everything 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 in fact using these copy works they don’t have any extra fees on top of the typical costs that
are there now what you need to bear in mind though is these potentially handled by other people totally or often have actually created portfolios you’ve got a real individual doing the management you have to make certain you pick the individual that’s right for you just like any line of work this is your monetary properties so we absolutely need to make certain it’s the best person for us before we copy them so the first things i would call it if you do want to use 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 choice 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 money that you’re investing you won’t require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are using your own money but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a terrific option for you again to test the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it obviously you may have missed out on gains and losses during that time naturally if you had actually invested your real cash it permits you to build confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to remember prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i indicate by that certainly 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 fine with possibly losing an excellent amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose cash however that equally indicates they’ll lose at some time in their journey clearly people do generate income also and i have actually got videos all about how you can make certain you’re one of individuals to actually earn money however in this situation ensure you research your danger level would you be fine providing your money to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re somebody who isn’t wishing to be that dangerous do not pick someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong commodities
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like gold or perhaps oil plus more conventional 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 state you can really use this too actually easily over here you can copy individuals now it will provide you a lot of options and you can utilize the system to really search for somebody that you expensive actually following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has met that requirements and it does offer you a threat aspect also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might 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 understand ask you to confirm are you okay with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she really buying so let’s go into portfolio and you can see she’s quite 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 kind of into those blue box and the tech industry she’s got some of mine really that i invest in too which is excellent so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a little bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production business as that. Can You Trade Bitcoin On Thinkorswim.
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