We get htis a lot on our site the answer to Robinhood App We Could Not Approve Your Application….Questions that i hear from brand-new investors what if you’re brand new to investing you simply do not want to decide what you in fact wish to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the first off you can hire an investment portfolio supervisor they’ll normally charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is obviously you can purchase mutual funds particular funds are developed 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 bear in mind this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume due to the fact that 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 cash they consider that option also so you actually get used to the structure of the website 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 risk this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being said let’s dive directly 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 element that is most likely.
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well-known for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests 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 basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies 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 fees included actually vital you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 zero fee websites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 know before you really begin buying copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly essential to understand these now on there’s a couple of fees there isn’t charges to do with really buying and selling fine so commission costs are complimentary however there are a number of other charges the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those choices that they have a great deal 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 once every six months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine 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 great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is basic 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 wish to utilize their platform go from uk to us then that conversion charge 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 give me us dollars rather you have to pay their charges now the great aspect of though when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies 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 extra fees so that’s actually excellent using that part of their site will not definitely limit you in any way however we have to know 2 other charges the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is essentially the difference that is part of the financial 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 worth 599 per share in tesla that in fact indicates that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the current cost of tesla is the value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind obviously 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 occur it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread out fees it’s normally extremely small 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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overnight charge now this is truly important if you’re in fact using cfds yourself as well an over night fee is when you’re not doing that buy offer transaction in the exact same day fine there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which suggests you’re in fact purchasing the exact possession instead of utilizing leverage anyhow you won’t get hit with these charges but these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you go into the aid section this isn’t the over night costs information you can see exactly 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 and that only applies as i said to cfds there are some surcharges naturally depending on what you are purchasing as well this is on your own so keep that in mind however complete charges are completely within their assistance info fine and we talked about in addition to totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal fee 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 operates they do not have any additional charges on top of the regular fees that
are there now what you require to remember though is these potentially handled by other individuals completely or sometimes have actually created portfolios you have actually got a real individual doing the management you have to make certain you pick the person that’s right for you much like any kind of work this is your monetary assets so we definitely 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 wish to utilize this function we’ve got a couple of different choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash maybe this is an excellent option for you once again to check the theories okay you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it obviously you may have missed out on gains and losses during that time obviously if you had invested your real cash it enables you to build self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i mean by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i fine with possibly losing an excellent quantity of this investment or getting as
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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the fact 75 people will lose money but that equally implies they’ll lose at some point in their journey obviously people do earn money as well and i’ve got videos everything about how you can make certain you’re one of individuals to actually make money however in this scenario make certain you research your threat level would you be all right offering your money to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too really easily over here you can copy people now it will offer you a lot of choices and you can use the system to actually search for someone that you expensive actually following so let’s see possibly we want somebody from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has actually satisfied that requirements and it does provide you a danger element also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to confirm are you all right with this and off you go now another method 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 actually purchasing 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 know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine really that i buy too which is good so really for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s also got a little bit more um of the kind of primary food companies and you’ve got you understand pharmaceutical and production companies as that. Robinhood App We Could Not Approve Your Application.
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