We get htis a lot on our site the answer to What Stock Trading Platform Does Warren Buffett Use….Concerns that i hear from brand-new investors what if you’re brand new to investing you just do not want to choose 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 normally charge a quite a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are created 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 also now if you’re brand new to a total please bear in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not in fact 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 right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you in fact get used 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 danger this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the ideal ones for you which being said let’s dive straight in [Music] so 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 probably.
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well-known for it’s the choice to see what other traders are doing extraordinary we don’t usually 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 wish to do exactly what that trader is doing or match that exact portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their financial 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 charges involved actually important you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee sites then may not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
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there’ll be costs on other parts perhaps 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 costs with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with costs really important to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling fine so commission costs are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees so you can clearly put cash in now if you’re 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 wish to withdraw your money so you offer your shares you sell your products whatever you’re offering 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 make sure that i’m only withdrawing when i absolutely require to now you may state all right that’s rather costly 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 among those options that they have a great deal of platforms obviously are totally free 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 entirely how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact providing 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 state provide me us dollars rather you need to pay their fees now the terrific thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great using that part of their website won’t definitely limit you in any way nevertheless we need to understand two other charges the first being what’s called spread fees okay and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is essentially the difference that is part of the investment platform in between the buy price and the list price alright it’s their premium on doing both those 2 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 means that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the present rate of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you state all right well why does that occur it simply 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 wish to sell it which is how they make a bit of money on those spread fees it’s typically incredibly little 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 money now the last feat is called an
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overnight charge now this is really essential if you’re actually utilizing cfds yourself too an overnight fee is when you’re not doing that buy offer transaction in the very same day fine there’s then an over night charge charged and even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which implies you’re really buying the precise asset instead of utilizing take advantage of anyway you won’t get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s say if you enter into the assistance area this isn’t the over night costs info you can see exactly 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 and that just applies as i stated to cfds there are some additional charges obviously depending on what you are investing in as well this is on your own so keep that in mind however complete costs are completely within their assistance information alright and we spoke about along with complimentary to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 different ways of really utilizing these copy functions they do not have any additional charges on top of the regular costs that
exist now what you require to bear in mind though is these potentially handled by other individuals completely or in some cases have actually produced portfolios you have actually got a real individual doing the management you need to make sure you select the person that’s right for you much like any type of work this is your financial possessions so we definitely require to ensure it’s the right individual for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money or a virtual platform virtual methods 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 require to put in your credit card details or anything you can essentially have this virtual portfolio mimic as if you are utilizing your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash possibly this is a fantastic alternative for you once again to evaluate the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe have fun with it obviously you may have lost out on gains and losses during that time obviously if you had actually invested your real cash it permits you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i mean 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 run the risk of simply implies am i okay with potentially losing a great amount of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly indicates they’ll lose at some point in their journey certainly people do generate income also and i have actually got videos all about how you can make certain you’re one of individuals to in fact generate income but in this scenario ensure you research your risk level would you be okay providing your cash to another person which is successfully what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t select someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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like gold or perhaps oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too truly quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to really search for someone that you elegant actually following so let’s see maybe we desire somebody from unified kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has met that criteria and it does offer you a risk aspect too 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 individuals that have rather high returns
remember it resembles 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 could make four or minus 50 there’s no other way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you fine with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact buying 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 good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is great so actually 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 companies that seems to be what she prefers she’s also got a little bit more um of the sort of primary food business and you have actually got you understand pharmaceutical and production companies as that. What Stock Trading Platform Does Warren Buffett Use.
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