We get this a lot on our site and the answer to Can You Trade Bitcoin If You Are Under 18….Concerns that i hear from brand-new financiers what if you’re brand new to investing you simply do not want to choose what you really wish to invest and you desire somebody to do it for you there’s just a number of ways that that can happen the first of all you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are developed once 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 bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform don’t just presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash 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 real business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has stated they have actually made earnings 14 months in a row purchase these choices since you think is the best ones for you and that being said 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 element that is probably.
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popular for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for example 10 of their financial 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 fees included actually vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real 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 no fee websites then might not charge you for in fact 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 sort of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal fees 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 immediately converted into us dollars and i’ll cover a little point about that later but when you wish 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 five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms clearly 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 know depends completely how you’re investing however that is a cost to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there 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 give me us dollars rather you need to pay their fees now the great aspect of however when you’ve converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other costs the very first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is essentially the distinction that becomes part of the investment platform in between the buy cost and the price okay 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 in fact implies that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of make money from you every time you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you say okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a little bit of cash on those spread costs it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last task is called an
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overnight cost now this is truly crucial if you’re really utilizing cfds yourself as well an overnight charge is when you’re not doing that buy sell transaction in the very same day okay there’s then an over night fee charged and even if you go from the friday to the monday prior to cruising 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 specific possession rather than utilizing utilize anyway you won’t get hit with these fees but these fees are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s say if you enter into the assistance area this isn’t the over night charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some added fees of course depending upon what you are purchasing too this is on your own so keep that in mind however complete costs are completely within their assistance info okay and we discussed in addition to complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of in fact using these copy operates they do not have any additional fees on top of the regular costs that
are there now what you require to keep in mind though is these possibly managed by other people entirely or often have actually produced portfolios you have actually got a real person doing the management you need to ensure you pick the person that’s right for you just like any type of work this is your financial assets so we absolutely need to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of different 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 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 money that you’re investing you won’t require to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash but actually buy 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 great alternative for you once again to check the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe play with it clearly you might have lost out on gains and losses during that time naturally if you had actually invested your real money it permits you to develop 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 really how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk 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 financial investments the riskier you can be risk simply indicates am i all right with potentially losing a good amount of this financial investment or getting as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose money however that equally means they’ll lose at some point in their journey certainly individuals do generate income as well and i’ve got videos all about how you can make certain you’re one of individuals to actually make money however in this situation make sure you research your danger level would you be fine giving your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that risky don’t pick somebody who’s completely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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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 in fact utilize this too actually quickly over here you can copy people now it will give you a lot of options and you can use the system to actually look for someone that you fancy really following so let’s see maybe we desire somebody from united kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has actually fulfilled that requirements and it does offer you a risk element too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to verify are you all right with this and off you go now another way 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 really purchasing 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 purchase too which is great so in fact for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good 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 companies and you’ve got you understand pharmaceutical and production business as that. Can You Trade Bitcoin If You Are Under 18.
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