We get htis a lot on our site the answer to Tradezero Vs Robinhood….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t want to decide what you really want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can occur the to start with you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are created once 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 as well now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform do not simply presume 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 give that choice as well so you actually get utilized to the structure of the website and after that when you’re ready to use 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 buying genuine business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they’ve made profit 14 months in a row purchase these options because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The 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 most likely.
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famous for it’s the option to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they sell whatever they do your cash will be mimicked 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 cash in so we’re going to likewise cover is the fees involved truly important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero charge sites then might not charge you for in fact buying and selling etfs or funds private products private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees actually crucial to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling all right so commission costs are free however there are a number of other fees the very first one is withdrawal charges so you can undoubtedly 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 want to withdraw your cash so you sell your shares you offer your products 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 of course understanding that i’m going to make sure that i’m only 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 costs somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms certainly 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 when every six months you understand depends completely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 say give me us dollars rather you have to pay their fees now the excellent aspect of however when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we need to know 2 other costs the very first being what’s called spread charges okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is generally the difference that is part of the financial investment platform in between the buy price and the list price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that really means that when you wish to sell or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present price of tesla is the worth of a share what’s called spread charges is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to offer so they’re going to give you less back with your sale and you say 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 difference in between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread fees it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit money now the last accomplishment is called an
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overnight cost now this is actually important if you’re actually utilizing cfds yourself as well an over night charge is when you’re refraining from doing that buy sell transaction in the exact same day alright there’s then an over night charge charged or perhaps if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which indicates you’re really buying the specific property instead of utilizing utilize anyhow you will not get hit with these charges but 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 state if you go into the help section this isn’t the overnight fees 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 overnight or you’re doing over weekends which only applies as i said to cfds there are some service charges of course depending upon what you are buying too this is on your own so keep that in mind however complete charges are entirely within their help information all right and we discussed as well as totally 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 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 ways of actually using these copy works they don’t have any additional costs on top of the normal costs that
exist now what you require to remember though is these possibly managed by other individuals completely or often have actually developed portfolios you’ve got a real person doing the management you need to ensure you pick the person that’s right for you similar to any profession this is your monetary possessions so we absolutely require to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of different alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can generally have this virtual portfolio simulate 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 utilizing your genuine money possibly this is a great alternative for you again to check the theories alright you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe play with it undoubtedly you may have missed out on gains and losses throughout that time naturally if you had actually invested your genuine cash it enables you to develop self-confidence understand the platform so that’s one option for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive in fact how to copy people 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 threat profile is now what do i imply by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply suggests am i fine with potentially losing a good amount of this financial investment or getting as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly implies they’ll lose at some point in their journey certainly people do generate income as well and i have actually got videos everything about how you can make certain you are among individuals to in fact earn money however in this situation make sure you research your risk level would you be alright giving your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wishing to be that dangerous don’t select someone who’s totally into crypto or currency conversion think about it you ‘d most likely desire a backbone 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 same with who you’re following now as i say you can really utilize this too actually quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to actually look for someone that you elegant really following so let’s see perhaps we want someone from united kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has actually met that requirements and it does give you a threat 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 rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee 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 this person for example ruby mza as an example you can really deep dive into what is she really investing in 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 good to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine really that i invest in too which is great so actually for me knowing 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 likewise got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Tradezero Vs Robinhood.
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