We get htis a lot on our site the answer to Best Book To Read To Lear How To Trade Cryptocurrencies….Questions that i hear from new investors what if you’re brand new to investing you merely don’t want to decide what you really want to invest and you desire somebody to do it for you there’s only a number of ways that that can happen the firstly you can hire an investment portfolio manager they’ll normally 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 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 also now if you’re brand new to a total please bear in mind this platform is quite innovative 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 learning more about 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 play around with it even invest with virtual cash they give that option also so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row buy these options because you think is the ideal ones for you and that being said let’s dive directly in [Music] The 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 element that is probably.
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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for instance 10 of their 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 really crucial you understand what are the costs of this now with any platform there will be some cost to certainly 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 absolutely no cost websites then may not charge you for really buying and selling etfs or funds individual products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand before you actually begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs actually important to understand these now on there’s a couple of costs 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 fees so you can obviously put money 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 in the future but when you wish to withdraw your money so you sell your shares you offer 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 of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms clearly are totally free 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 once every 6 months you understand depends entirely how you’re investing however that is a cost to remember the second cost that i have actually touched upon is that conversion cost 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 suits me.
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a great deal of my stocks are us dollar stocks anyhow 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 utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there 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 provide me us dollars rather you need to pay their charges now the terrific aspect of however when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 fees so that’s actually good using that part of their site will not definitely limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is basically the distinction that is part of the investment platform in between the buy rate and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that actually implies that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me show you that again so the existing rate of tesla is the worth of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of make money from you whenever you do a buyer’s share so keep that in mind certainly it’s more costly to buy 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 lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it which is how they make a little bit of cash on those spread out costs it’s usually 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 little bit cash now the last feat is called an
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overnight fee now this is really important if you’re actually using cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer deal in the same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which means you’re in fact buying the specific asset instead of utilizing utilize anyhow you will not get hit with these fees but these fees are if you’re utilizing utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the aid section this isn’t the over night charges information you can see precisely the breakdown and it’ll inform 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 added fees naturally depending upon what you are purchasing also this is on your own so keep that in mind but complete costs are totally within their assistance details fine and we talked about along with totally free 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 five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different ways of in fact using these copy works they do not have any additional costs on top of the typical charges that
exist now what you require to bear in mind though is these potentially handled by other people totally or often have produced portfolios you have actually got a genuine individual doing the management you have to make certain you pick the individual that’s right for you just like any profession this is your financial possessions so we absolutely need to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option 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 cash that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are using your own cash but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a fantastic option for you again to test the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it obviously you might have missed out on gains and losses throughout that time obviously 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 go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i mean 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 risk just means am i all right with potentially losing a good 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 cash that’s why they make the fact 75 people will lose cash but that equally implies they’ll lose eventually in their journey obviously individuals do generate income too and i’ve got videos all about how you can make certain you’re one of the people to really generate income however in this situation ensure you research study your threat level would you be all right offering your money to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re somebody who isn’t wishing to be that risky don’t choose someone who’s totally into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too really easily over here you can copy people now it will provide you a great deal of choices and you can utilize the system to in fact look for somebody that you fancy really following so let’s see maybe we want somebody from unified kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great amount and i can find everyone who has met that criteria and it does provide you a threat factor 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
keep in mind it’s like anything to do with the news or forecasts of the future this does not imply somebody 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 then you know ask you to confirm are you alright with this and off you go now another way to in fact deep dive if we click on 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 rather 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 type of into those blue box and the tech industry she’s got a few of mine actually that i invest in too which is excellent so in fact for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a bit more um of the type of primary food business and you have actually got you know pharmaceutical and production companies as that. Best Book To Read To Lear How To Trade Cryptocurrencies.
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