We get htis a lot on our site the answer to Summit Trading Platform….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you really want to invest and you want somebody to do it for you there’s only a couple of ways that that can happen the first of all you can hire an investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds particular funds are created 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 an overall please bear in mind this platform is quite innovative you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform don’t just assume because 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 choice as well so you actually get utilized to the structure of the website 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 real companies if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row buy these options since you believe is the ideal ones for you which being said let’s dive directly in [Music] so 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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popular for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included really important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies 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 zero charge sites then might not charge you for in fact buying and selling funds or etfs private products private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with fees truly important to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling alright so commission fees are totally free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can obviously 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 later however when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to remember the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice 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 buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really offering 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 rather you need to pay their costs now the excellent feature of however when you’ve transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as money 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 extra charges so that’s truly good using that part of their site will not certainly restrict you in any way however we have to understand two other costs the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the investment platform between the buy cost and the price fine it’s their premium on doing both those two 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 indicates that when you wish to buy 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 present cost of tesla is the worth of a share what’s called spread charges 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 profit from you whenever 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 give you less back with your sale and you say fine well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it and that is how they make a bit of cash on those spread out fees it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit cash now the last feat is called an
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over night charge now this is really crucial if you’re actually utilizing cfds yourself too an overnight fee is when you’re refraining from doing that buy offer transaction in the very same day all right there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one leverage which implies you’re really buying the specific possession rather than utilizing take advantage of anyhow you will not get hit with these costs however these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the help section this isn’t the over night fees details 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 surcharges obviously depending upon what you are investing in too this is on your own so keep that in mind but complete fees are entirely within their aid details alright and we talked about along with free 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 everything there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 various methods of in fact using these copy functions they do not have any additional costs on top of the normal charges that
are there now what you need to remember though is these possibly handled by other people totally or sometimes have actually created portfolios you’ve got a real person doing the management you have to make certain you choose the individual that’s right for you just like any kind of work this is your financial properties so we definitely need to ensure 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 alternatives for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play 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 using your own money however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a great choice for you again to check the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe play with it undoubtedly you may have lost out on gains and losses during that time of course if you had actually invested your genuine cash it permits you to develop 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 actually how to copy people and copy portfolios now here’s something to remember before you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i suggest by that certainly 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 just implies am i okay with potentially losing a great quantity of this investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash however that similarly suggests they’ll lose at some point in their journey undoubtedly individuals do make money as well and i’ve got videos everything about how you can make sure you’re one of the people to actually make money however in this situation ensure you research study your risk level would you be okay offering your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous don’t select somebody who’s completely into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold or even oil plus more standard etfs and index funds you may 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 actually utilize this too truly quickly over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to actually search for someone that you elegant actually following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a good quantity and i can discover everybody who has actually met that criteria and it does give you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of individuals that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing 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 good to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine really that i invest in too which is great so actually for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Summit Trading Platform.
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