We get htis a lot on our site the answer to Coinbase Vs Quickbit….Concerns that i speak with 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 want somebody to do it for you there’s only a number of manner ins which that can take place the first off you can employ an investment portfolio manager they’ll normally charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are developed 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 bear in mind this platform is rather innovative you can do cfds which naturally cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform don’t just presume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row invest in these choices since you think is the best ones for you and that being said let’s dive straight 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 belongs to social trading which is one aspect that is probably.
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popular for it’s the choice to see what other traders are doing amazing we don’t 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 say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies 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 likewise cover is the costs included really vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no charge sites then might not charge you for actually buying and selling funds or etfs specific commodities 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 kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really essential to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission costs are free however there are a couple of other fees the first one is withdrawal charges so you can clearly put money in now if you remain 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 however when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a cost to bear in mind the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase 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 and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists 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 haggle with them you can’t go to the bank and say offer me us dollars instead you need to pay their costs now the terrific aspect of though when you have actually converted your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 fees so that’s really good using that part of their site will not definitely limit you in any way however we have to be aware of two other costs the first being what’s called spread charges 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 essentially the distinction that belongs to the investment platform in between the buy cost and the price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really suggests that when you wish to offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the present price of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of money on those spread out fees it’s typically extremely little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a little bit money now the last accomplishment is called an
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over night cost now this is truly important if you’re actually utilizing cfds yourself too an over night cost is when you’re not doing that buy sell deal in the same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which suggests you’re really buying the specific property rather than utilizing utilize anyhow you will not get hit with these fees however these fees are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s say if you enter into the aid section this isn’t the over night charges information you can see precisely the breakdown and it’ll inform 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 applies as i stated to cfds there are some additional charges of course depending upon what you are purchasing also this is on your own so keep that in mind however complete fees are totally within their help information all right and we talked about as well as free to deposit in however 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 charge now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really using these copy operates they do not have any extra charges on top of the normal charges that
are there now what you require to keep in mind though is these possibly managed by other people completely or in some cases have produced portfolios you have actually got a real individual doing the management you have to ensure you pick the person that’s right for you just like any profession this is your financial assets so we definitely need to ensure 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 couple of different alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your genuine money maybe this is a terrific option for you once again to check the theories fine you might wish to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it clearly you may have missed out on gains and losses throughout that time obviously if you had invested your genuine money it permits you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat 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 financial investments the riskier you can be risk simply implies am i alright with potentially losing a good quantity of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose money but that equally suggests they’ll lose at some point in their journey obviously individuals do make money also and i have actually got videos all about how you can ensure you are among the people to actually generate income but in this situation ensure you research study your danger level would you be fine offering your money to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s totally into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might not desire 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 utilize this too actually quickly over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to actually search for somebody that you elegant really following so let’s see maybe we desire someone from united 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 great quantity and i can discover everybody who has actually satisfied that criteria and it does provide you a threat factor as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
remember it’s like anything to do with the news or forecasts 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 chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to confirm are you alright with this and off you go now another method to really 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 purchasing 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 great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine really that i purchase too which is great so actually for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s also got a bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production business as that. Coinbase Vs Quickbit.
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