We get htis a lot on our site the answer to Fidelity Cryptocurrency 401K….Concerns that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you really want to invest and you want somebody to do it for you there’s only a number of ways that that can happen the to start with you can work with an investment portfolio manager they’ll typically charge a rather a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds particular funds are developed 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 advanced you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform do not just assume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative 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 genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row purchase these options since you think is the right ones for you and that being stated let’s dive directly 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’s part of social trading which is one aspect that is probably.
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well-known for it’s the option to see what other traders are doing incredible we do not normally 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 money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for example 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 also cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 zero cost sites then may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you actually begin buying copy trading or copy portfolios and finally some finest guidance best 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 costs actually crucial to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission charges are free nevertheless there are a number of other charges the very first one is withdrawal costs 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 instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing however that is a fee to remember the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even 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 using trading two and two open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually 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 have to pay their charges now the great thing about though when you’ve transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website will not definitely restrict you in any way however we need to understand two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is generally the difference that belongs to the investment platform between the buy price 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 today tesla’s dollar worth 599 per share in tesla that really suggests 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 current cost of tesla is the value of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit from you whenever 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 give you less back with your sale and you say all right 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 want to offer it which is how they make a bit of cash on those spread costs it’s typically exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit cash now the last task is called an
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overnight cost now this is truly essential if you’re actually using cfds yourself as well an over night cost is when you’re not doing that buy offer transaction in the exact same day all right there’s then an overnight cost charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re in fact buying the precise property instead of utilizing leverage anyhow you will not get hit with these charges but these fees are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the help area this isn’t the over night charges information you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i said 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 however full fees are totally within their aid info okay and we spoke about as well as complimentary 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 fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of in fact using these copy functions they don’t have any additional fees on top of the typical fees that
are there now what you need to keep in mind though is these possibly managed by other individuals totally or sometimes have actually created portfolios you have actually got a genuine individual doing the management you have to make certain you select the individual that’s right for you just like any kind of work this is your monetary possessions so we definitely need to ensure it’s the best individual for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real 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 details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a fantastic choice for you once again to check the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it certainly you may have missed out on gains and losses throughout that time naturally if you had invested your genuine cash it enables you to develop self-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 really how to copy individuals and copy portfolios now here’s something to bear in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i indicate by that obviously 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 means am i fine with possibly losing a good amount of this financial investment or getting as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly means they’ll lose at some time in their journey undoubtedly people do earn money too and i’ve got videos everything about how you can make certain you’re one of individuals to in fact earn money however in this situation ensure you research your threat level would you be fine offering your cash to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you might 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 actually utilize this too actually easily over here you can copy people now it will give you a great deal of options and you can use the system to really look for somebody that you fancy actually following so let’s see possibly we desire someone from joined kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has satisfied that criteria and it does offer you a danger 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
bear in mind it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to confirm are you all right with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really 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 understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is good so in fact for me knowing what i like to buy 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 type of main food companies and you’ve got you know pharmaceutical and production business as that. Fidelity Cryptocurrency 401K.
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