We get htis a lot on our site the answer to Cryptocurrency In Thinkorswim….Concerns that i hear from new investors what if you’re brand new to investing you simply don’t wish to decide what you in fact wish to invest and you desire someone to do it for you there’s just a number of manner ins which that can take place the first of all you can employ an investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 also now if you’re brand new to an overall please bear in mind this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something because that person has said they have actually made profit 14 months in a row buy these options because you believe is the right ones for you which being stated 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 aspect that is most likely.
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famous for it’s the option to see what other traders are doing unbelievable we do not generally 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 in fact state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means 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 likewise cover is the fees involved really vital 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 purchasing the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for actually buying and selling funds or etfs specific commodities private 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 show you the costs with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you remain 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 however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those options that they have a great deal of platforms undoubtedly are totally free 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 six months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
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a great deal 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 anybody so if you’re using trading two and two open market anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually offering 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 give me us dollars rather you need to pay their fees now the great aspect of though when you’ve transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good utilizing that part of their website won’t definitely limit you in any way however we need to be aware of 2 other charges the very first being what’s called spread fees okay and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is basically the distinction that is part of the financial investment platform between the buy price and the price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really implies that when you wish to purchase or sell as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing rate of tesla is the value of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that happen it simply 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 wish to sell it and that is how they make a little bit of cash on those spread out charges it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit cash now the last task is called an
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over night fee now this is truly crucial if you’re really utilizing cfds yourself also an overnight charge is when you’re not doing that buy offer transaction in the very same day okay there’s then an overnight charge charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one leverage which implies you’re actually purchasing the precise asset rather than utilizing leverage anyway you will not get hit with these charges but these charges are if you’re utilizing leverage and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s say if you go into the assistance area this isn’t the overnight costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only applies as i stated to cfds there are some surcharges obviously depending upon what you are purchasing as well this is on your own so keep that in mind but full fees are totally within their assistance info okay and we talked about along with totally free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of in fact utilizing these copy functions they don’t have any additional fees on top of the regular charges that
are there now what you require to remember though is these potentially handled by other individuals entirely or often have created portfolios you have actually got a real individual doing the management you need to ensure you pick the individual that’s right for you similar to any line of work this is your financial assets so we absolutely need to make certain it’s the best person for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual ways 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 require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money perhaps this is a fantastic choice for you once again to check the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it certainly you may have missed out on gains and losses during that time of course if you had invested your genuine money it allows you to develop self-confidence understand the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand 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 financial investments the riskier you can be risk simply suggests am i all right with possibly losing a good amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly implies they’ll lose at some time in their journey obviously people do make money as well and i’ve got videos all about how you can make certain you’re one of individuals to actually make money however in this scenario make certain you research study your threat level would you be alright giving your money to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous do not choose somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more standard 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 actually use this too really quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to in fact search for someone that you fancy really following so let’s see possibly we desire someone from joined kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 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 danger factor too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have rather 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 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 after that you understand ask you to verify are you all right with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is good so actually for me knowing what i like to invest in 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 also got a bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production business as that. Cryptocurrency In Thinkorswim.
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