We get htis a lot on our site the answer to Todd Harrison Best Trading Platforms….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t wish to decide what you actually wish to invest and you want somebody to do it for you there’s just a number of manner ins which that can take place the first off you can employ a financial investment portfolio supervisor they’ll usually charge a rather 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 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 rather advanced you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform do not just assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row purchase these choices due to the fact that you think is the right ones for you and that being stated 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’s part of social trading which is one aspect that is probably.
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famous for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of options and basically every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included really critical you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies 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 actually buying and selling funds or etfs private commodities private stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 prior to you in fact start purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with costs actually essential to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission costs are free however there are a couple of other fees 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 money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling 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 ensure that i’m just withdrawing when i absolutely require to now you might say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends entirely 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 handling us dollars just there’s not an alternative to purchase in euros or uk which’s great 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 and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state offer me us dollars instead you have to pay their charges now the terrific aspect of however when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent using that part of their website won’t certainly limit you in any way however we need to be aware of 2 other charges the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the financial investment platform between the buy price and the sale 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 want to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you state okay 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 wish to offer it which is how they make a little bit of cash on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit cash now the last feat is called an
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over night cost now this is actually crucial if you’re really utilizing cfds yourself as well an over night cost is when you’re not doing that buy sell transaction in the very same day all right there’s then an overnight cost charged and even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which means you’re in fact buying the exact possession instead of using leverage anyway you won’t get hit with these charges but these costs are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you go into the assistance section this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell 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 stated to cfds there are some service charges obviously depending upon what you are purchasing also this is on your own so keep that in mind however complete charges are entirely within their help information okay and we talked about in addition to complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of actually using these copy operates they do not have any extra costs on top of the normal charges that
exist now what you need to bear in mind though is these possibly handled by other people entirely or often have developed portfolios you’ve got a genuine person doing the management you have to make certain you select the person that’s right for you just like any profession this is your monetary possessions so we absolutely require to ensure it’s the right person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual ways 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 require to put in your credit card details or anything you can basically have this virtual portfolio imitate as if you are utilizing your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is an excellent alternative for you once again to test the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to type of safe play with it certainly you might have missed out on gains and losses throughout that time obviously if you had actually invested your real 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 genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to keep in mind before you choose 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 suggest 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 just means am i okay with possibly losing a great quantity of this financial investment or acquiring as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that equally suggests they’ll lose at some time in their journey obviously individuals do earn money as well and i’ve got videos everything about how you can ensure you’re one of the people to really make money but in this circumstance make certain you research your threat level would you be alright offering your money to someone else which is effectively 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 pick somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold and even oil plus more traditional 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 in fact utilize this too truly easily over here you can copy individuals now it will provide you a lot of options and you can use the system to actually look for someone that you elegant in fact following so let’s see possibly we desire someone from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has fulfilled that criteria and it does offer you a threat element 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 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 might make four or minus 50 there’s no chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is good so actually for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s also got a little bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Todd Harrison Best Trading Platforms.
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