We get htis a lot on our site the answer to Coinbase Vs Cryptopay….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply do not wish to decide what you actually wish to invest and you desire somebody to do it for you there’s only a number of ways that that can occur the to start with you can work with a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are developed 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 obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not just assume due to the fact that 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 cash they give that choice too so you actually get used to the structure of the site and then when you’re ready to utilize 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 purchasing genuine business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you which being said let’s dive directly 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 probably.
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well-known for it’s the choice to see what other traders are doing unbelievable we don’t typically 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 cash we can in fact say 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 purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 no charge sites then might not charge you for actually buying and selling funds or etfs private products individual stocks.
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there’ll be charges on other parts possibly 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 charges with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling alright so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they in fact 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 state give me us dollars instead you have to pay their costs now the great thing about however when you’ve converted your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their website won’t definitely restrict you in any way however we have to understand two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the investment platform between the buy price and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that really suggests that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread charges is the difference then actually 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 each time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you state fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread costs it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a little bit money now the last accomplishment is called an
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over night cost now this is actually important if you’re actually using cfds yourself too an overnight cost is when you’re refraining from doing that buy offer transaction in the same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which means you’re in fact buying the precise asset rather than using utilize anyhow you won’t get hit with these charges but these fees are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you go into the aid area this isn’t the over night charges information you can see precisely the breakdown and it’ll tell you what are the charges what are the fees 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 of course depending on what you are buying also this is on your own so keep that in mind however complete fees are completely within their aid information fine and we discussed as well as totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of actually utilizing these copy works they do not have any additional fees on top of the normal fees that
are there now what you require to remember though is these possibly managed by other people completely or often have actually created portfolios you’ve got a genuine individual doing the management you have to make sure you select the individual that’s right for you just like any type of work this is your monetary assets so we absolutely need to ensure it’s the best 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 have actually got a number of different options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are using your own money however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a fantastic choice for you once again to test the theories fine you might wish to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it clearly you might have lost out on gains and losses during that time obviously if you had invested your real money it permits you to construct confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy people 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 certain you understand what your risk profile is now what do i imply by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply means am i fine with potentially losing an excellent quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that similarly indicates they’ll lose eventually in their journey clearly individuals do make money as well and i’ve got videos everything about how you can make sure you’re one of individuals to actually make money however in this situation ensure you research your danger level would you be okay giving your cash to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that risky do not select somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really use this too actually quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to really search for someone that you fancy in fact following so let’s see perhaps we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually fulfilled that criteria and it does provide you a threat factor also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you okay 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 actually 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 great to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Coinbase Vs Cryptopay.
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