We get htis a lot on our site the answer to Binance Feese….Concerns that i speak with brand-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 just a number of ways that that can occur the first of all you can work with an investment portfolio supervisor they’ll usually charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are produced 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 quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you really get used 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 of course your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re discussing how to copy other people’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 actually stated they have actually made profit 14 months in a row buy these choices since you believe is the ideal ones for you and that being said let’s dive directly 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 probably.
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famous for it’s the option to see what other traders are doing incredible we don’t typically 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 cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 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 vital you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs individual products individual stocks.
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there’ll be fees on other parts maybe 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 costs with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with costs really important to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal fees 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 however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy 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 buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually giving you in terms of 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 offer me us dollars instead you have to pay their fees now the fantastic thing about though when you have actually converted your cash you do not have to invest it right away that dollar worth can being 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent utilizing that part of their website will not definitely limit you in any way however we have to understand 2 other charges the first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you
on is generally the difference that is part of the financial investment platform between the buy rate and the price alright it’s their premium on doing both those two 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 suggests that when you wish 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 value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more costly 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 happen it just 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 want to sell it and that is how they make a little bit of cash on those spread out charges it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last feat is called an
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overnight fee now this is truly crucial if you’re in fact using cfds yourself as well an over night fee is when you’re refraining from doing that buy offer deal in the exact same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday before cruising 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 implies you’re in fact purchasing the precise asset instead of using leverage anyway you will not get hit with these charges but these charges are if you’re using utilize and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the assistance section this isn’t the over night charges details you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that just applies as i said to cfds there are some added fees obviously depending upon what you are investing in as well this is on your own so keep that in mind however complete fees are totally within their help info fine and we talked about as well as totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity 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 different ways of in fact utilizing these copy works they do not have any extra costs on top of the regular fees that
are there now what you need to keep in mind though is these potentially managed by other individuals totally or sometimes have developed portfolios you have actually got a genuine person doing the management you have to make certain you choose the person that’s right for you just like any type of work this is your financial possessions so we absolutely need to ensure 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 utilize this function we’ve got a couple of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real 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 money that you’re investing you won’t need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are using your own money however actually buy 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 choice for you once again to test the theories fine you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it certainly you may have missed out on gains and losses during that time naturally if you had actually invested your genuine cash it allows you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to bear in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply suggests am i all right with possibly losing a good amount of this investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the figure 75 people will lose cash however that equally indicates they’ll lose at some point in their journey undoubtedly people do make money also and i have actually got videos all about how you can ensure you are among individuals to actually generate income however in this circumstance ensure you research your threat level would you be fine providing your cash to another person which is effectively what you’re doing and trusting them make sure you understand what they’re buying totally if you’re somebody who isn’t wanting to be that risky don’t choose somebody who’s entirely into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold or perhaps 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 in fact utilize this too really easily over here you can copy individuals now it will offer you a lot of options and you can utilize the system to actually search for somebody that you elegant in fact following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has actually satisfied that criteria and it does offer you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of individuals that have quite high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they could 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 all right with this and off you go now another method to actually 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 purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine really that i invest in too which is great so really for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s likewise got a little bit more um of the type of primary food business and you have actually got you know pharmaceutical and production business as that. Binance Feese.
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