We get this a lot on our site and the answer to Coinbase Adds Dogecoin….Questions that i speak with new investors what if you’re brand new to investing you simply do not want to choose what you in fact wish to invest and you want someone to do it for you there’s just a number of manner ins which that can take place the to start with you can work with an investment portfolio manager they’ll typically charge a quite a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are developed 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 also now if you’re brand new to an overall please remember this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made earnings 14 months in a row buy these options due to the fact that you believe is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding 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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famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included truly critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 sites then may not charge you for actually buying and selling funds or etfs private products private stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 prior to you really begin purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with fees really important to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling fine so commission charges are complimentary however there are a couple of other costs the very first one is withdrawal fees so you can certainly put money in now if you’re 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 on but when you wish to withdraw your cash so you sell your shares you sell 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among 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 mainly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing however that is a charge to keep in mind the second fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’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 purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact 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 excellent thing about though when you’ve converted your cash you do not have to invest it right now that dollar value can being 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 really good utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is essentially the distinction that belongs to the investment platform between the buy cost and the price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually implies that when you want to offer or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of benefit from you every time you do a buyer’s share so keep that in mind obviously it’s more pricey to buy than it is to sell so they’re going to provide you less back with your sale and you say all right well why does that occur it just 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 want to sell it which is how they make a little bit of cash on those spread fees it’s normally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a bit cash now the last accomplishment is called an
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over night fee now this is truly important if you’re in fact utilizing cfds yourself as well an over night fee is when you’re not doing that buy offer transaction in the same day fine there’s then an overnight fee charged and even if you go from the friday to the monday before sailing a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which implies you’re really purchasing the precise possession rather than utilizing leverage anyway you won’t get hit with these fees however these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you go into the help section this isn’t the over night costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some added fees obviously depending on what you are buying too this is on your own so keep that in mind however full fees are completely within their aid details okay and we discussed as well as complimentary to deposit in but there’s a five dollar charge if you wish 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 stated copy trading and copy portfolios are 2 various ways of really utilizing these copy works they do not have any additional costs on top of the typical costs that
exist now what you need to keep in mind though is these possibly managed by other individuals completely or sometimes have produced portfolios you have actually got a genuine individual doing the management you have to ensure you select the person that’s right for you similar to any profession this is your financial assets so we absolutely require to make sure it’s the right person for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different alternatives 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 means i think you get yep a hundred thousand dollars to have fun 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 generally have this virtual portfolio imitate as if you are utilizing your own cash however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is a great alternative for you once again to test the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual option as a method to kind of safe play with it clearly you might have missed out on gains and losses during that time naturally if you had invested your real money it enables you to construct self-confidence understand 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 in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your threat profile is now what do i suggest by that obviously 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 just means am i alright with potentially losing a good amount of this investment or gaining as
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well now remember everything is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that equally means they’ll lose eventually in their journey clearly individuals do generate income also and i’ve got videos all about how you can make certain you are among individuals to actually earn money however in this scenario ensure you research your risk level would you be okay providing your money to another person which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you might not desire 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 use this too really quickly over here you can copy people now it will offer you a great deal of choices and you can use the system to really look for someone that you fancy actually following so let’s see perhaps we want someone from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has actually met that requirements and it does offer you a danger element 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 quite high returns
keep 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 4 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 fine with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is excellent so in fact 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 companies that appears to be what she prefers she’s likewise got a little bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production business as that. Coinbase Adds Dogecoin.
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