We get this a lot on our site and the answer to Bakkt Vs Coinbase….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to decide what you actually want to invest and you desire someone to do it for you there’s only a number of manner ins which that can take place the first off you can hire a financial investment portfolio supervisor they’ll typically charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is obviously you can purchase mutual funds specific funds are created 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 bear in mind this platform is quite advanced you can do cfds which obviously cfds are ways of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform don’t simply assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row buy these choices since you believe is the best ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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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popular for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies 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 charge websites then may not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 know before you really begin buying copy trading or copy portfolios and lastly some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with costs really crucial to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling fine so commission costs are totally free however there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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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 sell your shares you sell your commodities whatever you’re selling 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 might state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact giving you in terms of 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 say give me us dollars instead you have to pay their fees now the terrific thing about however when you’ve transformed your money you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 costs so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way however we have to understand two other costs the very first being what’s called spread fees all right and i’m going to show you what i mean 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 all right 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 worth 599 per share in tesla that actually suggests that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current cost of tesla is the value of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a little bit of money on those spread costs it’s usually extremely little it could be a matter of pens matter of cents in there but 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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overnight charge now this is truly important if you’re really using cfds yourself too an over night charge is when you’re not doing that buy offer deal in the same day alright there’s then an over night charge charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which implies you’re in fact purchasing the precise possession rather than using leverage anyhow you will not get hit with these costs however these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s say if you go into the aid area this isn’t the overnight charges details you can see precisely 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 and that only applies as i said to cfds there are some surcharges naturally depending on what you are buying too this is on your own so keep that in mind but full fees are totally within their assistance information fine and we spoke about in addition to free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of really using these copy operates they don’t have any additional charges on top of the regular charges that
exist now what you need to keep in mind though is these potentially managed by other people totally or in some cases have actually developed portfolios you have actually got a real individual doing the management you need 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 require to ensure it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various 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 choice to invest genuine cash 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 information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is a terrific option for you again to evaluate the theories okay you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it clearly you may have missed out on gains and losses throughout that time of course if you had invested your genuine money it permits you to construct self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you choose somebody 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 mean 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 indicates am i fine with potentially losing a good amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly means they’ll lose eventually in their journey certainly people do generate income also and i’ve got videos all about how you can ensure you’re one of the people to actually earn money but in this scenario ensure you research study your risk level would you be alright offering your cash to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re buying fully if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too actually quickly over here you can copy people now it will give you a great deal of options and you can use the system to actually search for somebody that you expensive actually following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has met that criteria and it does give you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have quite high returns
keep in mind 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 guarantee 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 validate are you okay with this and off you go now another method to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she really purchasing so let’s go 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 certainly like sort of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is good so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she prefers she’s also got a little bit more um of the type of main food business and you have actually got you know pharmaceutical and production companies as that. Bakkt Vs Coinbase.
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