We get htis a lot on our site the answer to Thinkorswim Rejected This Account Is Not Approved For This Level Of Options Trading….Concerns that i hear from brand-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 someone to do it for you there’s only a number of manner ins which that can happen the first off you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are produced 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 too now if you’re brand new to an overall please bear in mind this platform is quite advanced you can do cfds which naturally 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 simply presume because i use 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 naturally your capital is at risk this is investing we’re doing you’re buying real business if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they have actually made profit 14 months in a row buy these options since you believe is the right ones for you and that being said let’s dive straight 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 alternative to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means 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 crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you actually start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with fees actually important to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a couple of other charges the very first one is withdrawal fees so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly 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 offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say alright 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 costs are simply one of those options that they have a great deal of platforms certainly are complimentary 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 when every six months you know depends completely how you’re investing however that is a charge to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that fits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 open market anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 say give me us dollars rather you have to pay their charges now the terrific thing about however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of two other costs the first being what’s called spread costs fine and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is essentially the distinction that becomes part of the investment platform in between the buy rate and the list price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really indicates that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the existing rate of tesla is the worth of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind certainly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that occur it just 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 want to sell it which is how they make a little bit of money on those spread fees it’s generally incredibly little 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 cash now the last accomplishment is called an
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overnight cost now this is really essential if you’re actually utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell transaction in the very same day fine there’s then an over night cost charged and even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which means you’re really purchasing the specific property rather than utilizing take advantage of anyway you will not get hit with these charges but 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 selling in the exact same day so let’s state if you enter into the help section this isn’t the over night costs information you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some surcharges obviously depending upon what you are buying too this is on your own so keep that in mind however full charges are totally within their assistance details okay and we discussed 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 typical product stock shares whatever there’s that 5 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 costs on top of the regular charges that
are there now what you need to remember though is these possibly handled by other people completely or often have developed portfolios you have actually got a real person doing the management you need to make certain you choose the individual that’s right for you similar to any type of work this is your monetary possessions so we definitely need to make sure it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a number of different options 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 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 credit card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a great choice for you again to check the theories okay you might want to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time of course if you had invested your genuine money it enables you to develop 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 bear in mind before you pick 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 imply 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 run the risk of just suggests 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 downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly indicates they’ll lose eventually in their journey clearly people do make money too and i’ve got videos everything about how you can ensure you are among individuals to really make money but in this situation ensure you research study your risk level would you be fine providing your cash to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re investing in fully if you’re somebody who isn’t wanting to be that risky do not select someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more conventional 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 really quickly over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to really search for somebody that you expensive in fact following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has met that criteria and it does give you a threat factor also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean somebody 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 easy as clicking the copy button and off you go and then you know ask you to confirm are you alright with this and off you go now another method to actually deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she in fact 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 excellent to understand 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 good so really for me understanding what i like to buy 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 also got a little bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production business as that. Thinkorswim Rejected This Account Is Not Approved For This Level Of Options Trading.
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