We get htis a lot on our site the answer to Gregory Starkey Td Ameritrade….Questions that i speak with new investors what if you’re brand new to investing you merely don’t want to choose what you actually want to invest and you want somebody to do it for you there’s only a number of manner ins which that can happen the to start with you can work with a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are created 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 too now if you’re brand new to a total please remember this platform is quite innovative 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 learning about please do study the platform don’t just assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you in fact get utilized to the structure of the website 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 danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row invest in these choices because you believe is the right ones for you which being said let’s dive straight 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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famous for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for instance 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 also cover is the fees involved really vital you understand what are the expenses 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 involved and even a few of the absolutely no cost websites then may not charge you for really buying and selling funds or etfs private commodities 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 type of costs 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 before you in fact start buying copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission charges are free nevertheless there are a number of other fees the first one is withdrawal costs so you can clearly put cash in now if you’re 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 later on however when you want to withdraw your money so you offer your shares you sell your commodities 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state fine 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 someplace and withdrawal charges are just among those options 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 mostly it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway 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 use anyone so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they actually providing 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 provide me us dollars rather you have to pay their fees now the fantastic feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their site won’t definitely limit you in any way nevertheless we have to know two other fees the first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you
on is basically the distinction that becomes part of the investment platform between the buy cost and the sale 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 really implies that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me show you that once again so the current cost of tesla is the value of a share what’s called spread costs is the difference then really to buy 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 whenever you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to offer so they’re going to give you less back with your sale and you state all right well why does that occur it just does that is the nature of a great deal 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 cash on those spread fees it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit cash now the last task is called an
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over night cost now this is truly crucial if you’re actually using cfds yourself as well an over night cost is when you’re not doing that buy sell deal in the same day alright there’s then an overnight fee charged or perhaps 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 in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re actually purchasing the specific property rather than utilizing take advantage of anyhow you will not get hit with these charges but these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the help section this isn’t the over night charges details you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some additional charges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete charges are entirely within their assistance details alright and we spoke about along with totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of really utilizing these copy operates they do not have any extra costs on top of the regular fees that
exist now what you need to bear in mind though is these potentially managed by other people entirely or in some cases have produced portfolios you have actually got a real person doing the management you need to make certain you pick the individual that’s right for you just like any kind of work this is your financial possessions so we absolutely require to make sure it’s the ideal person 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 couple of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual ways 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 need to put in your credit card information or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is a great choice for you again to evaluate the theories all right you might want to buy tesla or apple or this etf why not utilize the virtual option as a method to type of safe play with it clearly you may have missed out on gains and losses during that time naturally if you had actually invested your real cash it allows you to build self-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 people and copy portfolios now here’s something to remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i suggest by that clearly 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 indicates am i fine with possibly losing a great quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the figure 75 people will lose cash but that similarly indicates they’ll lose at some point in their journey undoubtedly individuals do earn money also and i’ve got videos everything about how you can make sure you’re one of individuals to actually earn money but in this scenario make certain you research study your danger level would you be alright providing your money to another person which is effectively what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that risky do not select somebody who’s totally into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually use this too really quickly over here you can copy individuals now it will provide you a great deal of options and you can utilize the system to in fact look for someone that you fancy actually following so let’s see perhaps we want someone from joined kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has fulfilled that criteria and it does provide you a threat aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not indicate 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 basic as clicking the copy button and off you go and then you understand ask you to verify are you fine 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 really deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent 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 actually 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 good spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Gregory Starkey Td Ameritrade.
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