We get htis a lot on our site the answer to What Trading Platform Does Ross Cameron Use….Questions that i speak with new investors what if you’re brand new to investing you just do not want to decide what you really wish to invest and you desire somebody to do it for you there’s only a number of manner ins which that can take place the to start with you can hire an investment portfolio supervisor they’ll typically 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 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 remember this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i utilize 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 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 threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly 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 earnings 14 months in a row invest in these choices because you believe is the right 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 element that is probably.
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famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be mimicked 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 money in so we’re going to also cover is the costs involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero cost websites then might not charge you for actually buying and selling etfs or funds specific commodities individual stocks.
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there’ll be costs on other parts possibly 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 show you the fees with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually essential to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly 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 in the future however when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among 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 largely it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re handling us dollars just 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 anyway or the etfs that i’m buying or perhaps some crypto so i’m great 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 2 free trade anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact giving 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 offer me us dollars rather you have to pay their fees now the fantastic aspect of though when you’ve transformed your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their site will not definitely limit you in any way however we need to understand two other charges the very first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy rate and the sale price alright 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 means that when you wish to purchase 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 rate of tesla is the value of a share what’s called spread costs is the distinction then actually to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more pricey to buy than it is to sell 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 distinction in between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread out fees it’s generally incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a bit cash now the last feat is called an
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overnight cost now this is actually important if you’re really using cfds yourself also an over night charge is when you’re refraining from doing that buy sell deal in the same day alright there’s then an over night fee charged and even if you go from the friday to the monday before sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually purchasing the precise property rather than using leverage anyway you won’t get hit with these fees however these fees are if you’re utilizing utilize 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 state if you go into the assistance section this isn’t the over night fees details you can see precisely the breakdown and it’ll inform you what are the charges what are the costs 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 on what you are purchasing also this is on your own so keep that in mind however full fees are completely within their assistance information alright and we discussed as well as free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 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 do not have any extra fees on top of the normal charges that
exist now what you require to bear in mind though is these potentially managed by other people entirely or in some cases have actually produced portfolios you’ve got a real individual doing the management you have to make sure you pick the individual that’s right for you just like any line of work this is your financial possessions so we absolutely need to make sure it’s the ideal person 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 number of different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are using your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is a fantastic option for you again to evaluate the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to type of safe play with it undoubtedly you might have missed out on gains and losses during that time naturally if you had invested your genuine money it permits you to build self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i imply by that obviously 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 just suggests am i fine with possibly losing a good amount of this financial investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose money that’s why they make the fact 75 individuals will lose cash however that similarly indicates they’ll lose at some point in their journey clearly people do earn money too and i have actually got videos everything about how you can ensure you’re one of individuals to actually make money however in this scenario make certain you research study your risk level would you be alright giving your cash to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous don’t choose someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products
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like gold or perhaps oil plus more traditional 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 state you can in fact use this too really quickly over here you can copy people now it will provide you a great deal of choices and you can use the system to in fact look for somebody that you fancy in fact following so let’s see perhaps we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has satisfied that criteria and it does offer you a threat factor also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
remember it’s like 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 other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you okay with this and off you go now another way 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 actually buying so let’s enter 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 know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is excellent so really for me understanding what i like to purchase my specific 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 also got a little bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production companies as that. What Trading Platform Does Ross Cameron Use.
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