We get htis a lot on our site the answer to Is Coinbase The Best Wallet….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t want to decide what you really wish to invest and you want somebody to do it for you there’s only a number of ways that that can take place the first of all you can employ a financial investment portfolio supervisor they’ll generally 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 of course you can buy mutual funds particular funds are produced once 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 a total please remember this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies 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 danger and we need to bear that in mind do not simply do something because that person has actually said they have actually made profit 14 months in a row buy these choices because you believe is the ideal ones for you which being stated let’s dive straight 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 aspect that is probably.
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popular for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies 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 essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved actually crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost sites then may not charge you for actually buying and selling etfs or funds private commodities private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing 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 know prior to you in fact begin purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling okay so commission fees are free nevertheless there are a couple of other fees the first one is withdrawal charges so you can certainly put cash in now if you’re 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 in the future however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing however that is a fee to remember the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that matches 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 fee now when you use anybody so if you’re using trading two and two free trade anybody this is basic they have i expect 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 bargain with them you can’t go to the bank and state provide me us dollars instead you need to pay their charges now the great aspect of though when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent utilizing that part of their website won’t certainly restrict you in any way however we need to understand 2 other fees the very first being what’s called spread fees fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you
on is generally the difference that belongs to the investment platform between the buy cost and the list price all right 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 sell 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 costs is the distinction then in fact to buy that share on the platform and you’ll find this all over 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 obviously 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 all right 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 want to sell it and that is how they make a little bit of cash on those spread charges it’s usually extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit cash now the last task is called an
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overnight charge now this is actually essential if you’re in fact utilizing cfds yourself as well an overnight cost is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an overnight fee charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which indicates you’re actually purchasing the precise possession instead of using take advantage of anyhow you will not get hit with these fees however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you go into the aid area this isn’t the overnight costs information you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some added fees obviously depending on what you are purchasing as well this is on your own so keep that in mind however complete charges are totally within their help info all right and we discussed in addition to 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 whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of actually using these copy works they do not have any additional fees on top of the regular charges that
exist now what you require to bear in mind though is these possibly handled by other people totally or often have actually produced portfolios you’ve got a real individual doing the management you have to ensure you choose the person that’s right for you much like any line of work this is your financial possessions so we absolutely require to make sure it’s the right person 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 number of various choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest real money or a virtual platform virtual means 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 details or anything you can basically have this virtual portfolio simulate as if you are using your own cash but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a terrific alternative for you once again to check the theories all right you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe play with it undoubtedly you may have lost out on gains and losses throughout that time of course if you had actually invested your real money it enables you to build confidence understand the platform so that’s one option for you then next week and i’m going to go back 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 keep in mind before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i mean 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 run the risk of simply implies am i fine with potentially losing an excellent quantity of this financial investment or getting as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money but that equally suggests they’ll lose at some point in their journey certainly people do generate income also and i’ve got videos all about how you can ensure you’re one of the people to actually earn money however in this scenario make sure you research your threat level would you be alright offering your cash to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that risky don’t choose somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually use this too really quickly over here you can copy individuals now it will provide you a lot of choices and you can utilize the system to actually look for someone that you fancy in fact following so let’s see possibly we want someone from unified kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has actually met that criteria and it does give you a risk aspect also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might 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 after that you know ask you to validate are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really 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 little bit so that’s great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so really for me understanding what i like to invest in 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 prefers she’s likewise got a little bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production business as that. Is Coinbase The Best Wallet.
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