We get this a lot on our site and the answer to Binance Feese….Concerns that i hear from brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you really want to invest and you desire someone to do it for you there’s just a couple of manner ins which that can take place the to start with you can employ an investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is naturally you can buy 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 as well now if you’re brand new to an overall please remember this platform is quite sophisticated you can do cfds which obviously cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they’ve made profit 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you and that being said let’s dive directly 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 belongs to social trading which is one element that is most likely.
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well-known 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 and so that means with our cash we can in fact say 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 purchase they offer 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 also cover is the costs involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero fee sites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
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there’ll be fees on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges truly essential to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling fine so commission charges are free nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously put cash in now if you remain 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 wish to withdraw your cash so you offer your shares you offer 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state okay that’s rather costly 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 among those choices that they have a lot of platforms obviously are complimentary 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 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s great that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good 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 standard they have actually i suppose stuck with whatever charge 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 charge is there what are they really giving you in regards to 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 terrific thing about 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 cash dollars for as long as you like so that implies the initial 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 fees so that’s truly good utilizing that part of their site won’t certainly restrict you in any way however we need to be aware of two other costs the first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you
on is basically the difference that is part of the investment platform in between the buy rate 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 website today tesla’s dollar value 599 per share in tesla that actually means that when you wish to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the current price of tesla is the worth of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind undoubtedly 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 state all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a little bit of money on those spread out costs it’s generally 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 bit cash now the last feat is called an
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over night fee now this is truly important if you’re in fact using cfds yourself also an overnight charge is when you’re not doing that buy sell transaction in the very same day alright there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which means you’re really buying the specific asset instead of using leverage anyway you won’t get hit with these fees however these costs are if you’re using take advantage of and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s say if you go into the help section this isn’t the overnight charges info 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 and that only applies as i stated to cfds there are some additional charges naturally depending on what you are purchasing too this is on your own so keep that in mind however full fees are entirely within their help information alright and we talked about as well as complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of in fact using these copy operates they do not have any additional charges on top of the normal charges that
exist now what you need to keep in mind though is these potentially handled by other people entirely or often have actually created portfolios you’ve got a real individual doing the management you need to make sure you choose the person that’s right for you just like any profession this is your financial possessions so we absolutely need to make certain it’s the ideal 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’ve got a number of various options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash but really purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a great alternative for you again to test the theories okay you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it obviously you may have lost out on gains and losses throughout that time naturally if you had invested your genuine money it enables you to construct confidence understand 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 bear in mind prior to 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 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 implies am i fine with possibly losing a great quantity of this investment or getting as
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well now remember whatever is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 people will lose cash but that equally suggests they’ll lose eventually in their journey certainly people do make money too and i’ve got videos everything about how you can make sure you’re one of individuals to in fact earn money however in this circumstance make sure you research study your danger level would you be fine giving your cash to someone else which is effectively what you’re doing and trusting them make certain you comprehend what they’re investing in totally if you’re someone who isn’t wanting to be that dangerous do not pick someone who’s completely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong commodities
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like gold and 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 state you can actually use this too truly quickly over here you can copy individuals now it will give you a great deal of options and you can use the system to really look for somebody that you elegant really following so let’s see maybe we desire someone from united kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually satisfied that criteria and it does give you a threat element too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of individuals that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to verify are you fine with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually investing in 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 know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine really that i buy too which is excellent so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s also got a bit more um of the type of main food companies and you’ve got you know pharmaceutical and production business as that. Binance Feese.
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