We get this a lot on our site and the answer to Active Trader Category Is Disabled Thinkorswim….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply don’t want to choose what you really want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first of all you can hire an investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular 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 a total please remember this platform is rather advanced you can do cfds which naturally cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact get used to the structure of the website and then when you’re ready to utilize 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 investing in real companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row purchase these choices since you think is the right ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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well-known for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved actually important you comprehend 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 cost websites then might not charge you for actually buying and selling funds or etfs specific commodities specific 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 type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling okay so commission charges are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can undoubtedly 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 later on however when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering 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 need to now you may state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those choices that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a charge to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option 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 anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use 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 state give me us dollars instead you have to pay their fees now the fantastic aspect of though when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform 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 website won’t certainly restrict you in any way however we need to know 2 other charges the first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is generally the difference that is part of the financial investment platform between the buy price and the sale price okay it’s their premium on doing both those two 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 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 again so the existing cost of tesla is the value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you say fine well why does that happen 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 wish to offer it and that is how they make a bit of cash on those spread costs it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last feat is called an
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over night fee now this is truly important if you’re really using cfds yourself too an overnight charge is when you’re not doing that buy sell transaction in the very same day all right there’s then an overnight fee charged or 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 actually buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re in fact buying the specific asset rather than utilizing leverage anyway you won’t get hit with these charges but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s state if you go into the help area this isn’t the over night costs info you can see precisely 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 which just uses as i stated to cfds there are some surcharges of course depending upon what you are purchasing also this is on your own so keep that in mind but complete costs are entirely within their assistance info okay and we talked about along with complimentary to deposit in but there’s a five 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact using these copy works they don’t have any extra fees on top of the normal costs that
exist now what you require to remember though is these possibly managed by other individuals completely or in some cases have created portfolios you’ve got a genuine person doing the management you have to ensure you choose the person that’s right for you much like any kind of work this is your financial properties so we definitely need to make certain it’s the best individual 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 off if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is a great choice for you once again to check the theories alright you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it certainly you may have lost out on gains and losses during that time of course if you had actually invested your real money it allows you to develop confidence understand the platform so that’s one choice for you then next week and i’m going to return 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 remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk just means am i fine with possibly losing an excellent quantity of this financial investment or acquiring as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money but that equally means they’ll lose at some point in their journey certainly people do generate income also and i’ve got videos all about how you can ensure you are among individuals to actually earn money but in this situation make certain you research study your risk level would you be alright giving your money to another person which is efficiently what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that risky don’t choose somebody who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone 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 exact same with who you’re following now as i say you can in fact utilize this too really quickly over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to in fact look for somebody that you expensive really following so let’s see perhaps we desire someone from united kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has actually fulfilled that requirements and it does provide you a danger aspect too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they might make 4 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 after that you understand ask you to validate are you all right with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she really 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 good to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine in fact that i buy too which is excellent so in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the sort of primary food companies and you’ve got you know pharmaceutical and production business as that. Active Trader Category Is Disabled Thinkorswim.
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