We get htis a lot on our site the answer to Online Trading Platforms Comparison….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t wish to decide what you in fact want to invest and you desire somebody to do it for you there’s just a number of ways that that can happen the first off you can employ a financial investment portfolio manager they’ll usually charge a quite a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds particular funds are produced 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 an overall please keep in mind this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you really get used to the structure of the site and after that when you’re ready to utilize 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 purchasing genuine companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row buy these options due to the fact that you think is the best ones for you and that being stated let’s dive directly 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’s part of social trading which is one element that is probably.
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famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of options and generally each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually crucial you comprehend 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 involved and even some of the no fee sites then might not charge you for actually buying and selling etfs or funds individual products individual stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand before you actually begin purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with charges really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling fine so commission charges are free nevertheless there are a number of other costs the 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 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 offer your shares you offer your commodities 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a great deal of platforms clearly are totally 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 once every six months you know depends entirely how you’re investing but that is a charge to remember the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there 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 offer me us dollars instead you have to pay their costs now the terrific feature of however when you have actually 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 suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their site will not definitely restrict you in any way however we have to be aware of two other fees the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform between the buy cost and the price okay 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 actually indicates that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the present rate of tesla is the worth of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to sell so they’re going to provide 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 difference in between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread out charges it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit cash now the last feat is called an
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overnight cost now this is really essential if you’re really using cfds yourself too an overnight fee is when you’re not doing that buy offer deal in the same day okay there’s then an overnight cost 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 product and using time one utilize which implies you’re in fact buying the specific asset rather than using take advantage of anyway you won’t get hit with these fees however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you enter into the help area this isn’t the over night charges information 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 which only uses as i said to cfds there are some additional charges obviously depending on what you are investing in too this is on your own so keep that in mind however complete fees are entirely within their aid info alright and we spoke about along with totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really utilizing these copy operates they do not have any extra charges on top of the regular charges that
are there now what you require to bear in mind though is these potentially handled by other individuals totally or in some cases have actually produced portfolios you have actually got a real person doing the management you have to make certain you pick the individual that’s right for you just like any kind of work this is your financial properties so we definitely require to make sure it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various alternatives for us first off 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 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 simulate 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 using your genuine cash possibly this is a fantastic alternative for you once again to check the theories okay you might wish to buy tesla or apple or this etf why not use the virtual alternative as a method to sort of safe have fun with it certainly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine money it permits you to construct self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back 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 bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i mean by that obviously 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 indicates am i all right with potentially losing a good quantity of this investment or getting as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that similarly suggests they’ll lose at some time in their journey clearly people do make money as well and i have actually got videos all about how you can make certain you’re one of individuals to actually make money however in this situation make certain you research your threat level would you be okay giving your cash to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous don’t choose someone who’s entirely 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 traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually use this too really easily over here you can copy individuals now it will give you a great deal of options and you can use the system to in fact search for somebody that you elegant actually following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually satisfied that criteria and it does offer you a danger aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they could make 4 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 validate are you okay with this and off you go now another way to really deep dive if we click on this person for example 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 rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is good so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good 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 business as that. Online Trading Platforms Comparison.
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