We get htis a lot on our site the answer to Leigh Dorey Photography….Concerns that i speak with new financiers what if you’re brand new to investing you just do not wish to choose what you in fact want to invest and you want someone to do it for you there’s only a number of ways that that can occur the first off you can employ a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds specific 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 too now if you’re brand new to an overall please remember this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not simply assume since 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 choice as well so you in fact get used 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 risk this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which 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 aspect that is probably.
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well-known for it’s the choice to see what other traders are doing amazing 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 implies with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of choices and generally whenever 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 money in so we’re going to likewise cover is the charges included truly important you understand what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then might not charge you for actually buying and selling etfs or funds individual products private stocks.
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there’ll be costs on other parts maybe 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 costs with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees really crucial to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal costs 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 immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and say provide me us dollars instead you need to pay their costs now the excellent aspect of though when you have actually transformed your money 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 takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent using that part of their site won’t certainly limit you in any way however we need to understand two other fees the first being what’s called spread fees alright and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you
on is essentially the distinction that is part of the investment platform between the buy cost and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that in fact suggests that when you want 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 cost of tesla is the value of a share what’s called spread costs is the difference then really to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of profit from you each time you do a buyer’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state fine well why does that occur it simply 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 wish to sell it and that is how they make a bit of money on those spread charges it’s generally 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 task is called an
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over night cost now this is truly essential if you’re really using cfds yourself too an over night cost is when you’re refraining from doing that buy sell deal in the same day fine there’s then an over night charge charged and even if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re really purchasing the exact asset instead of utilizing take advantage of anyway you won’t get hit with these charges but these costs are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you enter into the help section this isn’t the overnight charges information 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 applies as i said to cfds there are some added fees naturally depending on what you are purchasing also this is on your own so keep that in mind however full charges are totally within their help info alright and we discussed along with free to deposit in however 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 five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of really using these copy works they do not have any extra fees on top of the typical costs that
are there now what you need to bear in mind though is these potentially handled by other people totally or sometimes have actually produced portfolios you’ve got a real individual doing the management you need to make sure you pick the person that’s right for you similar to any kind of work this is your monetary possessions so we definitely require to ensure it’s the ideal 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 couple of various choices 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 cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun 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 buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is an excellent choice for you once again to test the theories fine you might want 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 undoubtedly you might have missed out on gains and losses during that time naturally if you had actually invested your genuine cash it enables you to construct confidence understand the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember before you select someone 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 mean by that clearly 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 run the risk of just indicates am i all right with possibly losing an excellent quantity of this financial investment or getting as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 people will lose money but that similarly means they’ll lose at some time in their journey certainly people do make money as well and i have actually got videos all about how you can make sure you are among individuals to actually make money but in this situation make certain you research study your risk level would you be all right offering your cash to somebody else which is effectively 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 dangerous don’t pick someone who’s entirely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold and even oil plus more conventional 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 say you can in fact use this too truly quickly over here you can copy individuals now it will provide you a lot of options and you can utilize the system to really search for somebody that you expensive in fact following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually met that requirements and it does give you a threat element as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
bear 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 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 know ask you to validate are you okay with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she in fact investing in 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 great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is great so really for me knowing what i like to invest in my specific 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 likewise got a bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Leigh Dorey Photography.
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