We get htis a lot on our site the answer to How Old Do You Have To Be To Trade Cryptocurrency….Questions that i speak with brand-new investors what if you’re brand new to investing you simply do not wish to decide what you really want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can occur the first off you can work with an investment portfolio supervisor they’ll usually 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 purchase mutual funds particular funds are produced once 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 keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being stated 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 most likely.
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well-known for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real 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 websites then might not charge you for actually buying and selling etfs or funds specific products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually important to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those options that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase 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 purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really providing you in regards to 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 fantastic aspect of though when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 additional fees so that’s actually excellent utilizing that part of their site won’t certainly restrict you in any way however we need to understand two other fees the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is generally the difference that belongs to the financial investment platform between the buy rate 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 site right now tesla’s dollar value 599 per share in tesla that really means that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that once again so the existing cost of tesla is the value of a share what’s called spread costs is the distinction then actually to buy that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you state okay well why does that happen it simply 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 sell it which is how they make a bit of money on those spread out fees it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last accomplishment is called an
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overnight fee now this is truly important if you’re in fact using cfds yourself too an over night cost is when you’re not doing that buy offer deal in the same day alright there’s then an overnight charge charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one leverage which suggests you’re in fact purchasing the specific possession rather than utilizing take advantage of anyway you will not get hit with these costs but these costs are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s state if you go into the help section this isn’t the overnight costs 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 over night or you’re doing over weekends which only uses as i said to cfds there are some additional charges obviously depending on what you are investing in also this is on your own so keep that in mind but complete fees are entirely within their assistance information okay and we talked about in addition to complimentary 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 everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of in fact using these copy works they do not have any additional fees on top of the regular costs that
are there now what you require to bear in mind though is these possibly managed by other individuals totally or often have actually created portfolios you’ve got a genuine person doing the management you have to make sure you pick the person that’s right for you similar to any kind of work this is your monetary properties so we definitely require to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different alternatives 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 genuine money or a virtual platform virtual ways 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 charge card information or anything you can essentially have this virtual portfolio imitate 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 money possibly this is a great alternative for you once again to check the theories alright you may wish to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it obviously you might have lost out on gains and losses during that time naturally if you had invested your real cash it permits you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat 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 an excellent quantity of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 individuals will lose cash however that similarly indicates they’ll lose eventually in their journey clearly people do make money also and i’ve got videos everything about how you can make sure you’re one of the people to actually earn money however in this scenario make certain you research your threat level would you be okay offering your money to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that risky don’t select somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually use this too really quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to actually search for somebody that you elegant really following so let’s see perhaps we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has fulfilled that criteria and it does offer you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
remember 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 four or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got some of mine really that i invest in too which is great so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. How Old Do You Have To Be To Trade Cryptocurrency.
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