We get htis a lot on our site the answer to Jim Cramer Best Stock Trading Platform….Concerns that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you actually want to invest and you desire someone to do it for you there’s just a number of ways that that can occur the firstly you can employ an investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 also now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you really get utilized to the structure of the site and after that when you’re ready to use your own money 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 select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row purchase these options since you think is the right ones for you which being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests 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 also cover is the costs involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then may not charge you for really buying and selling funds or etfs specific commodities specific 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 show you the charges with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission costs are free nevertheless there are a number of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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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 sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those choices 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 mainly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 state offer me us dollars rather you have to pay their fees now the fantastic feature of though when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their website will not definitely limit you in any way nevertheless we have to know two other costs the first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you
on is basically the distinction that belongs to the financial investment platform between the buy price and the price alright 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 implies that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me show you that once again so the present rate of tesla is the worth of a share what’s called spread charges is the difference 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 make money from you every time you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you state all right well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a bit of money on those spread costs it’s generally extremely small it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last feat is called an
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over night cost now this is truly crucial if you’re really using cfds yourself too an over night cost is when you’re not doing that buy sell transaction in the exact same day fine there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which means you’re actually buying the exact possession instead of using utilize anyhow you won’t get hit with these charges however these costs are if you’re utilizing utilize 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 section this isn’t the overnight fees information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some service charges naturally depending upon what you are purchasing too this is on your own so keep that in mind but complete fees are entirely within their aid information all right and we talked about along with free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of really using these copy operates they don’t have any additional costs on top of the regular fees that
are there now what you require to keep in mind though is these possibly managed by other people entirely or sometimes have actually produced portfolios you have actually got a genuine individual doing the management you have to ensure you select the person that’s right for you similar to any kind of work this is your financial possessions so we definitely need to ensure it’s the right individual for us prior to we copy them so the first things i would call it if you do want to use this function we’ve got a number of various 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 real cash or a virtual platform virtual ways 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 need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is an excellent alternative for you again to test the theories alright you may wish to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe have fun with it undoubtedly you might have lost out on gains and losses during that time naturally if you had invested your real cash it allows you to construct 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 individuals and copy portfolios now here’s something to keep in mind prior to you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i suggest 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 just suggests am i fine with possibly losing a good amount of this financial 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 cash that’s why they make the figure 75 individuals will lose money but that similarly indicates they’ll lose at some time in their journey undoubtedly people do make money too and i’ve got videos all about how you can ensure you’re one of individuals to in fact earn money but in this situation make certain you research your risk level would you be fine offering your cash to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re someone who isn’t wishing to be that risky do not choose someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more traditional 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 state you can really utilize this too actually quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to in fact search for someone that you elegant in fact following so let’s see possibly we desire somebody from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has fulfilled that requirements and it does offer you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four 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 then you know ask you to validate are you okay with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she actually purchasing so let’s go 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 understand ibm paypal yep she’s definitely like kind 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 really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s also got a bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Jim Cramer Best Stock Trading Platform.
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