We get htis a lot on our site the answer to Coinbase Vs Iconomi….Concerns that i hear from brand-new investors what if you’re brand new to investing you just do not want to decide what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can occur the first of all you can work with an investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 a total please keep in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really 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 obviously your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row purchase these options since you think is the best ones for you and that being said let’s dive directly in [Music] The 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 most likely.
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popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests if for instance 10 of their investment portfolio remains 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 actually important you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost websites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you really start buying 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 more advanced financier so let’s kick off with fees truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling alright so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can obviously put money 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 offer 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 of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow 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 utilize anybody so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact giving you in regards to 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 instead you have to pay their fees now the fantastic thing about though when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their website will not certainly restrict you in any way however we have to be aware of 2 other costs the very first being what’s called spread costs fine 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 difference that belongs to the investment platform 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 value 599 per share in tesla that actually means that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you say okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction 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 exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit money now the last feat is called an
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overnight charge now this is truly important if you’re actually using cfds yourself also an over night cost is when you’re not doing that buy sell transaction in the exact same day fine there’s then an over night charge charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re really buying the precise asset instead of utilizing leverage anyhow you will not get hit with these costs but 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 very same day so let’s state if you enter into the assistance area this isn’t the over night charges details you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just uses as i stated to cfds there are some added fees obviously depending on what you are purchasing as well this is on your own so keep that in mind but full costs are totally within their aid information fine and we discussed in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical 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 2 various ways of really utilizing these copy functions they don’t have any additional charges on top of the regular charges that
exist 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’ve got a real individual doing the management you have to make sure you choose the individual that’s right for you much like any profession this is your financial properties so we absolutely require 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 different choices 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 genuine 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 basically have this virtual portfolio mimic as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is a terrific option for you once again to check the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe have fun with it clearly you might have missed out on gains and losses throughout that time of course if you had actually invested your genuine money it allows you to develop confidence understand the platform so that’s one option for you then next week and i’m going to go back 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 keep in mind before you choose someone 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 risk simply suggests am i okay with potentially losing an excellent amount of this investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey clearly people do earn money too and i have actually got videos all about how you can make certain you are among individuals to really earn money however in this situation make sure you research study your risk level would you be all right offering your money to somebody else which is successfully what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact use this too truly quickly over here you can copy people now it will give you a great deal of options and you can use the system to really search for someone that you elegant in fact following so let’s see possibly we desire somebody from united kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has actually satisfied that requirements and it does provide you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other 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 all right with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is excellent so really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s also got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Coinbase Vs Iconomi.
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