We get htis a lot on our site the answer to Coinbase Tax Interview Questions….Questions that i hear from brand-new investors what if you’re brand new to investing you just don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s only a number of ways that that can take place the first off you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 also now if you’re brand new to an overall please bear in mind this platform is rather innovative 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 discovering please do study the platform do not just presume because i utilize 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 alternative as well so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made revenue 14 months in a row invest in these choices since you think is the best ones for you and that being stated let’s dive straight 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 element that is most likely.
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famous for it’s the choice to see what other traders are doing unbelievable 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 means with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for example 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 also cover is the costs involved truly critical you understand what are the costs of this now with any platform there will be some cost to clearly 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 absolutely no charge websites then may not charge you for actually buying and selling etfs or funds private products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 understand before you really begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly important to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling okay so commission charges are complimentary however there are a number of other fees the very 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 want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering 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 say all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms clearly are free 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 when every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever cost 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 cost is there what are they actually providing 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 offer me us dollars instead you need to pay their costs now the great aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually great using that part of their website will not definitely restrict you in any way however we have to understand 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is generally the difference that is part of the investment platform in between the buy cost and the price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really implies that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me show you that once again so the present cost of tesla is the value of a share what’s called spread costs is the distinction then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you state alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction 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 charges it’s typically incredibly 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 little bit money now the last feat is called an
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over night cost now this is really important if you’re actually using cfds yourself as well an over night charge is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an over night charge charged and even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which implies you’re really buying the exact property instead of utilizing leverage anyway you won’t get hit with these fees but these costs are if you’re utilizing utilize 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 go into the assistance section this isn’t the overnight charges details 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 overnight or you’re doing over weekends which only applies as i said to cfds there are some service charges obviously depending upon what you are investing in as well this is on your own so keep that in mind however complete costs are completely within their help details all right and we spoke about along with free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of really using these copy functions they don’t have any extra fees on top of the typical costs that
exist now what you need to remember though is these possibly managed by other individuals totally or in some cases have created portfolios you’ve got a genuine person 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 assets so we absolutely need to make sure it’s the ideal 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 alternatives 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 money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are using your own money however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is an excellent choice for you again to test the theories alright you may want to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe have fun with it clearly you may have lost out on gains and losses during that time of course if you had actually invested your real cash it allows 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 keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i imply by that obviously 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 just implies am i okay with possibly losing an excellent amount of this investment or acquiring as
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well now keep in mind everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly means they’ll lose at some time in their journey obviously individuals do make money too and i’ve got videos all about how you can make sure you’re one of the people to in fact make money however in this circumstance make sure you research your danger level would you be fine offering your cash to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky do not choose someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might 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 in fact utilize this too actually easily over here you can copy people now it will offer you a lot of choices and you can utilize the system to actually search for somebody that you expensive really following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has actually satisfied that criteria and it does offer you a danger 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 imply somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you alright with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is excellent so in fact for me understanding 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 appears to be what she chooses she’s likewise got a bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Coinbase Tax Interview Questions.
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