We get htis a lot on our site the answer to Gemini Vs Itbit Vs Coinbase….Concerns that i hear from new financiers what if you’re brand new to investing you just don’t want to choose what you really want to invest and you want somebody to do it for you there’s just a number of ways that that can take place the to start with you can hire an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally 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 a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t simply presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option too so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has actually said they’ve made earnings 14 months in a row invest in these choices due to the fact that you think is the best ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
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well-known for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests 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 likewise cover is the fees involved actually critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 absolutely no cost sites then might not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 know prior to you actually begin buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges truly essential to understand 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 couple of other charges the first one is withdrawal charges so you can obviously 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 on but when you wish to withdraw your money so you sell your shares you sell your products 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 understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 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 charge to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that fits 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 good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use 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 haggle with them you can’t go to the bank and state give me us dollars rather you need to pay their costs now the excellent thing about however 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 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 extra costs so that’s truly great using that part of their website won’t definitely limit you in any way however we need to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is generally the distinction that is part of the investment platform between the buy price and the list price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that really indicates that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the current rate 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 discover this all over this is another manner in which they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that occur it just 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 wish to sell it which is how they make a bit of money on those spread charges it’s usually 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 cash now the last task is called an
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over night cost now this is really essential if you’re really using cfds yourself too an overnight cost is when you’re refraining from doing that buy sell deal in the very same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which suggests you’re in fact purchasing the precise possession rather than using utilize anyhow you will not get hit with these fees but 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 same day so let’s state if you enter into the assistance area this isn’t the overnight fees information 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 overnight or you’re doing over weekends which just applies as i said to cfds there are some additional charges naturally depending on what you are investing in too this is on your own so keep that in mind but complete fees are completely within their aid information all right and we talked about as well as 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 cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of actually utilizing these copy functions they don’t have any additional costs on top of the normal fees that
exist now what you need to remember though is these possibly managed by other people entirely or sometimes have actually developed portfolios you’ve got a genuine individual doing the management you need to make certain you pick the individual that’s right for you just like any kind of work this is your financial possessions so we definitely need to make sure it’s the right person for us before 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 various options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative 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 cash that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a great option for you again to check the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual option as a way to sort of safe have fun with it certainly you may have missed out on gains and losses during that time obviously if you had invested your real cash it permits you to construct self-confidence comprehend the platform so that’s one choice 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 keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i imply by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just indicates am i okay with potentially losing an excellent amount of this financial investment or getting as
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well now remember whatever is ups and downs you will generate income 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 also and i have actually got videos all about how you can make sure you’re one of the people to actually make money but in this circumstance make certain you research study your risk level would you be okay giving your money to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in totally if you’re somebody who isn’t wishing to be that risky don’t select somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you might not want 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 actually easily over here you can copy people now it will provide you a great deal of options and you can utilize the system to in fact search for someone that you fancy actually following so let’s see maybe we desire somebody from unified kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has met that requirements and it does offer 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 variety of people that have rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could 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 know ask you to verify are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she actually buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely 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 in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s also got a bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production business as that. Gemini Vs Itbit Vs Coinbase.
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