We get htis a lot on our site the answer to Can You Day Trade Cryptocurrency On Robinhood….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you actually wish to invest and you want someone to do it for you there’s just a number of manner ins which that can occur the to start with you can employ a financial investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are produced 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 bear in mind this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you really get used to the structure of the website and then 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 investing in genuine business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row buy these choices because you believe 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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famous for it’s the alternative 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 therefore that implies with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your cash will be simulated 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 cash in so we’re going to also cover is the fees involved really vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then might not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with charges really crucial to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission costs are totally free however there are a couple of other fees the very first one is withdrawal charges so you can certainly put cash in now if you’re 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 later but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a charge to remember the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion fee is there what are they in fact providing 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 instead you have to pay their charges now the great thing about however when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to know 2 other costs the very first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is essentially the difference that is part of the investment platform between the buy rate and the list price fine 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 worth 599 per share in tesla that really means that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind certainly 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 state all right well why does that happen it simply 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 sell it which is how they make a little bit of cash on those spread out fees it’s normally extremely small 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 bit cash now the last feat is called an
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over night charge now this is actually essential if you’re really using cfds yourself too an overnight cost is when you’re not doing that buy sell deal in the same day okay there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which indicates you’re actually buying the exact property rather than using utilize anyhow you will not get hit with these costs however these costs are if you’re using take advantage of 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 assistance section this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only applies as i stated to cfds there are some surcharges of course depending upon what you are investing in too this is on your own so keep that in mind but full charges are totally within their help info fine and we talked about in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal 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 various methods of actually using these copy operates they do not have any extra costs on top of the typical costs that
are there now what you require to keep in mind though is these possibly managed by other people completely or sometimes have developed portfolios you have actually got a genuine individual doing the management you have to ensure you choose the person that’s right for you much like any profession this is your financial possessions so we definitely require to make sure it’s the best individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is an excellent option for you once again to evaluate the theories alright you may want to buy tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it obviously you may have missed out on gains and losses during that time of course if you had invested your genuine money it enables you to construct self-confidence understand 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose 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 indicate by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply implies am i okay with potentially losing an excellent quantity of this investment or gaining as
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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash but that equally means they’ll lose eventually in their journey certainly people do generate income too and i’ve got videos all about how you can make certain you’re one of individuals to in fact generate income but in this situation make certain you research your risk level would you be fine providing your cash to someone else which is successfully what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re somebody who isn’t wishing to be that risky don’t pick someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold or perhaps 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 state you can really utilize this too actually quickly over here you can copy individuals now it will provide you a great deal of choices and you can use the system to really search for someone that you elegant really following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has actually met that criteria and it does offer you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as simple 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 really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really 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 great to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is good so in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the sort of primary food companies and you’ve got you understand pharmaceutical and production business as that. Can You Day Trade Cryptocurrency On Robinhood.
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