We get htis a lot on our site the answer to Kraken Vs Etoro Vs Poloniex….Questions that i hear from new investors what if you’re brand new to investing you merely do not want to decide what you in fact want to invest and you want somebody to do it for you there’s just a number of ways that that can occur the to start with you can hire an investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds specific funds are developed 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 a total please keep in mind this platform is rather sophisticated you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has actually stated they’ve made revenue 14 months in a row purchase these choices since you think is the ideal ones for you which being said let’s dive directly 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 probably.
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well-known for it’s the choice to see what other traders are doing extraordinary 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 indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for example 10 of their 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 fees involved truly vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost websites then may not charge you for actually buying and selling etfs or funds private commodities private 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 start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really important to comprehend these now on there’s a couple of charges there isn’t costs to do with really buying and selling alright so commission costs are totally free however there are a couple of other charges the very first one is withdrawal charges so you can certainly put cash 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 in the future however when you want to withdraw your cash so you sell your shares you sell 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 make certain that i’m just withdrawing when i definitely need to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this five 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 completely how you’re investing but that is a cost to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge 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 say offer me us dollars instead you have to pay their costs now the great feature of though when you have actually converted your cash you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their website will not definitely restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is generally the difference that is part of the investment platform in between the buy price and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really suggests that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the existing cost 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 small amount of make money from you every time you do a buyer’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 alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it which is how they make a little bit of money on those spread out costs it’s generally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a little bit cash now the last accomplishment is called an
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over night charge now this is truly important if you’re actually utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer deal in the same day fine there’s then an over night fee charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually buying the precise possession rather than utilizing leverage anyway you won’t get hit with these charges however these costs are if you’re using leverage and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the aid area this isn’t the over night fees info you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that just applies as i said to cfds there are some surcharges naturally depending on what you are investing in as well this is on your own so keep that in mind but full costs are totally within their aid info alright and we discussed in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 different methods of in fact using these copy operates they don’t have any extra fees on top of the normal costs that
exist now what you need to bear in mind though is these potentially managed by other people completely or sometimes have actually created portfolios you’ve got a real individual doing the management you need to make sure you pick the person that’s right for you similar to any profession this is your monetary properties so we absolutely need to ensure it’s the best person 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 different choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t require to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money possibly this is a terrific option for you once again to evaluate the theories fine you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it certainly you might have lost out on gains and losses throughout that time obviously if you had invested your genuine 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 bear in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger profile is now what do i indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply indicates am i fine with potentially losing a good quantity of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 people will lose money but that similarly implies they’ll lose at some point in their journey certainly individuals do make money too and i’ve got videos all about how you can make sure you’re one of individuals to really earn money however in this situation make sure you research study your risk level would you be alright giving your money to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re buying totally if you’re someone who isn’t wishing to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really utilize this too truly quickly over here you can copy individuals now it will provide you a lot of choices and you can use the system to in fact look for someone that you fancy really following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has actually met that criteria and it does provide you a danger element too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could 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 understand ask you to verify are you fine with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can actually 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 bit so that’s excellent to know ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is great so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies 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 understand pharmaceutical and production companies as that. Kraken Vs Etoro Vs Poloniex.
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