We get htis a lot on our site the answer to Does Robinhood Have Custodial Accounts….Questions that i speak with brand-new investors what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire somebody to do it for you there’s only a couple of ways that that can happen 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 perhaps a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific funds are produced 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 a total please bear in mind this platform is quite innovative you can do cfds which obviously 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 due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the site 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 real business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row buy these choices because you think is the best ones for you which 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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popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial 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 included truly important you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
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there’ll be charges on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really essential to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a number of other costs the first one is withdrawal fees 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 immediately 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 sell your products 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms clearly 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 when every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that fits me.
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a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 offer me us dollars instead you need to pay their costs now the terrific thing about though when you have actually converted your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is essentially the difference that becomes part of the financial investment platform in between the buy cost and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually implies 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 worth of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase 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 lot 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 little bit of money on those spread out charges it’s normally incredibly small 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 fee now this is really important if you’re really utilizing cfds yourself as well an over night cost is when you’re not doing that buy offer transaction in the very same day fine there’s then an overnight cost charged or even if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re actually purchasing the exact possession rather than utilizing leverage anyway you won’t get hit with these costs however these charges are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you go into the help area this isn’t the over night fees information you can see precisely the breakdown and it’ll inform 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 uses as i said to cfds there are some additional charges obviously depending upon what you are investing in too this is on your own so keep that in mind but complete costs are totally within their help information fine and we spoke about as well as complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of actually using these copy operates they don’t have any extra charges on top of the regular costs that
are there now what you need to keep in mind though is these potentially managed by other individuals totally or sometimes have produced portfolios you have actually got a genuine person doing the management you need to make sure you select the person that’s right for you much like any kind of work this is your financial properties so we definitely require to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different options for us first off if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real 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 won’t need to put in your credit card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a fantastic choice for you once again to test the theories okay you might want to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it certainly you might have lost out on gains and losses throughout that time of course if you had invested your real cash it enables you to construct self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember before you pick someone 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 certainly 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 fine with possibly losing a great quantity of this investment or gaining as
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well now remember everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money however that similarly implies they’ll lose eventually in their journey clearly people do earn money as well and i’ve got videos everything about how you can make certain you are among individuals to really generate income however in this circumstance make certain you research study your danger level would you be fine providing your cash to another person which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re someone who isn’t wanting to be that risky don’t select somebody who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone 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 same with who you’re following now as i state you can in fact utilize this too truly quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to actually look for someone that you fancy in fact following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually fulfilled that requirements and it does give you a danger aspect too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest 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 after that you understand ask you to confirm are you all right with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in 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 market she’s got some of mine in fact that i buy too which is excellent so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production business as that. Does Robinhood Have Custodial Accounts.
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