Coinbase Vs Iconomi – 0% Commission on Stocks

We get htis a lot on our site the answer to Coinbase Vs Iconomi….Questions that i speak with brand-new investors what if you’re brand new to investing you merely do not want to choose 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 happen the first off you can employ a financial investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps 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 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 keep in mind this platform is rather advanced you can do cfds which obviously cfds are ways 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 don’t simply presume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really get utilized to the structure of the website and after that when you’re ready to utilize 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 business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row invest in these choices because you think is the best 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 option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that means if for example 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 critical you comprehend what are the costs of this now with any platform there will be some cost to clearly 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 no charge sites then might not charge you for really buying and selling etfs or funds specific commodities specific stocks.

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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 prior to you in fact begin investing in copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really crucial to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling fine so commission costs are totally free however there are a number of other charges the very first one is withdrawal charges so you can clearly put cash in now if you remain 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 later however when you wish 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that suits me.

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a lot 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 use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually giving 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 state provide me us dollars rather you have to pay their fees now the great thing about though when you have actually transformed your cash you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their website will not certainly limit you in any way nevertheless we have to be aware of two other fees the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you

on is basically the difference that becomes part of the investment platform between the buy cost and the price alright 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 suggests that when you want to sell or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the present price of tesla is the value of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll find 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 certainly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you say all right 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 want to offer it and that is how they make a little bit of money on those spread out costs it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit money now the last feat is called an

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overnight charge now this is really crucial if you’re really utilizing cfds yourself as well an overnight fee is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which suggests you’re really buying the precise asset instead of using utilize anyhow you will not get hit with these charges however these fees are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you go into the aid section this isn’t the overnight costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some service charges obviously depending on what you are investing in too this is on your own so keep that in mind but complete costs are entirely within their aid information fine and we talked about along with free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of really using these copy operates they do not have any additional fees on top of the normal costs that

are there now what you need to remember though is these potentially handled by other individuals totally or in some cases have produced portfolios you’ve got a real person doing the management you have to ensure you select the person that’s right for you just like any line of work this is your financial possessions so we definitely 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 wish to use this function we have actually got a couple of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i think 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 information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however really purchase pretend buy copy individuals whatever you like if you’re not

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feeling comfortable with using your genuine cash perhaps this is an excellent option for you once again to test the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to kind of safe have fun with it certainly you may have lost out on gains and losses during that time obviously if you had invested your real money it enables 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i mean 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 means am i all right with possibly losing a great quantity of this investment or gaining as

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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 people will lose money but that similarly means they’ll lose at some point in their journey obviously people do make money as well and i have actually got videos everything about how you can make certain you’re one of the people to really earn money but in this circumstance ensure you research your danger level would you be alright giving your money to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying completely if you’re someone who isn’t wanting to be that risky do not select someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products

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like gold or even oil plus more traditional 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 say you can in fact use this too truly quickly over here you can copy people now it will provide you a lot of options and you can utilize the system to really search for someone that you expensive actually following so let’s see perhaps we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has met that criteria and it does provide you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns

bear in mind it’s like anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could make 4 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 verify are you alright with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine really that i purchase too which is great so actually for me knowing what i like to buy 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 chooses she’s also got a bit more um of the type of primary food business and you’ve got you know pharmaceutical and production business as that. Coinbase Vs Iconomi.

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