We get htis a lot on our site the answer to Katherine Hahn Coinbase….Questions that i speak with new financiers what if you’re brand new to investing you just don’t want to decide what you really wish to invest and you want somebody to do it for you there’s just a number of ways that that can occur the first of all you can employ a financial investment portfolio manager 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 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 sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you in fact get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that individual has actually said they’ve made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated 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 becomes part of social trading which is one aspect that is most likely.
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famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates if for instance 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 fees involved actually critical you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business 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 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 kinds of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually essential to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling fine so commission fees are complimentary however there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing but that is a fee to keep in mind the second cost that i have actually discussed 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 matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually offering 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 state offer me us dollars instead you have to pay their charges now the excellent aspect of however when you’ve 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 initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their website will not certainly restrict you in any way however we have to understand 2 other costs the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread fee as i’m going to show you
on is generally the difference that belongs to the financial investment platform between the buy price and the list price fine 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 in fact suggests that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present rate of tesla is the worth of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a little bit of cash on those spread fees it’s normally extremely little 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 bit cash now the last feat is called an
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overnight cost now this is truly important if you’re in fact utilizing cfds yourself as well an overnight cost is when you’re not doing that buy offer deal in the very same day okay there’s then an over night charge charged and even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which suggests you’re actually buying the specific property rather than using take advantage of anyway you will not get hit with these costs but these fees are if you’re utilizing utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the aid section this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just uses as i said to cfds there are some service charges of course depending on what you are purchasing as well this is on your own so keep that in mind however full fees are entirely within their assistance info okay and we spoke about in addition to totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of really utilizing these copy operates they don’t have any extra charges on top of the normal costs that
exist now what you require to bear in mind though is these possibly handled by other people entirely or in some cases have actually developed portfolios you’ve got a genuine person doing the management you need to make certain you select the person that’s right for you just like any profession this is your financial properties so we absolutely require to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a number of various 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 alternative to invest genuine money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is an excellent option for you again to evaluate the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it undoubtedly you might have lost out on gains and losses during that time obviously if you had invested your real money it permits you to develop 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select somebody 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 suggest by that obviously 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 just implies am i fine with potentially losing a good quantity of this financial investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly indicates they’ll lose at some point in their journey undoubtedly people do make money as well and i’ve got videos everything about how you can ensure you’re one of the people to actually earn money however in this situation ensure you research study your risk level would you be alright offering your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that dangerous don’t pick someone 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 perhaps oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really use this too actually quickly over here you can copy people now it will offer you a great deal of options and you can utilize the system to in fact look for someone that you fancy 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 acquired at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has met that criteria and it does offer you a danger element 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 individuals that have quite high returns
keep in mind 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 might make four or minus 50 there’s no chance to ensure so do keep that in mind and as simple 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 actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really 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 understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is excellent so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Katherine Hahn Coinbase.
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