We get htis a lot on our site the answer to Ticket Symbol For Larry Benedict….Questions that i hear from new investors what if you’re brand new to investing you just don’t want to choose what you in fact want to invest and you want someone to do it for you there’s just a couple of manner ins which that can happen the firstly you can employ a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are created once again with an account manager 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 an overall please bear in mind this platform is rather advanced 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 learning more about please do study the platform don’t just assume since i use 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 choice also 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 of course your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made profit 14 months in a row buy these options because you think is the right ones for you and that being said let’s dive directly in [Music] so the 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 element 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 typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so 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 basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for instance 10 of their 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 costs involved truly vital you understand what are the costs 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 a few of the zero charge websites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 prior to you actually start buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission fees are totally free however there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re 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 on but when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state alright that’s rather 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 fees are simply one of those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’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 fee now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand 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 haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their charges now the fantastic feature of though when you’ve converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is essentially the difference that is part of the financial investment platform in between the buy price 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 today tesla’s dollar value 599 per share in tesla that in fact indicates that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to sell so they’re going to offer 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 distinction between if you’re buying it then you wish to sell it which is how they make a bit of money on those spread charges it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last task is called an
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over night cost now this is actually crucial 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 alright there’s then an over night cost charged and even if you go from the friday to the monday before cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which means you’re actually buying the specific possession instead of using leverage anyhow you won’t get hit with these fees but these charges are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s state if you go into the aid area this isn’t the overnight costs 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 overnight or you’re doing over weekends which just uses as i stated to cfds there are some additional charges naturally depending upon what you are purchasing too this is on your own so keep that in mind but full charges are completely within their aid information fine and we spoke about along with free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever 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 ways of actually using these copy works they don’t have any extra charges on top of the regular costs that
exist now what you require to keep in mind though is these potentially handled by other individuals totally or sometimes have created portfolios you’ve got a real individual doing the management you have to ensure you pick the person that’s right for you just like any line of work this is your monetary possessions so we definitely need to make certain it’s the ideal individual for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual means 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 charge card details 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 comfortable with using your genuine cash possibly this is a terrific choice for you once again to test the theories okay you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to sort of safe have fun with it obviously you may have lost out on gains and losses during that time naturally if you had invested your real cash it enables you to build confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real 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 pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i mean by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i fine with potentially losing a good quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly suggests they’ll lose at some point in their journey clearly individuals do make money as well and i have actually got videos everything about how you can ensure you’re one of the people to in fact earn money but in this scenario make certain you research study your risk level would you be okay giving your cash to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that risky don’t choose someone who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you may 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 in fact use this too actually quickly over here you can copy individuals now it will offer you a lot of choices and you can utilize the system to in fact search for someone that you elegant actually following so let’s see maybe we desire someone from unified kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can discover everybody who has fulfilled that criteria and it does offer you a risk 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 people that have rather high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to verify are you fine with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is good so really for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s likewise 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. Ticket Symbol For Larry Benedict.
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