We get this a lot on our site and the answer to Coinbase Bitcin….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t wish to choose what you in fact want to invest and you want somebody to do it for you there’s just a number of manner ins which that can occur the to start with you can hire an investment portfolio supervisor they’ll usually 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 naturally you can purchase mutual funds specific funds are produced again with an account supervisor 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 keep in mind this platform is rather advanced you can do cfds which obviously 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 more about please do study the platform don’t just assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has said they’ve made revenue 14 months in a row invest in these choices since you believe is the best ones for you which being said let’s dive straight in [Music] so the 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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famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually say i wish 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 offer whatever they do your cash will be simulated with it so that suggests if for example 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 vital you understand what are the costs of this now with any platform there will be some expense to obviously 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 some of the absolutely no charge sites then may not charge you for actually buying and selling etfs or funds private products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling fine so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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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 money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice 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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really offering 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 state provide me us dollars rather you have to pay their fees now the terrific aspect of 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 suggests the initial 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 additional fees so that’s actually great utilizing that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other costs the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy rate and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really means that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that again so the current rate of tesla is the worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll find this all over this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you say alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread out fees it’s usually incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last accomplishment is called an
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over night charge now this is actually essential if you’re actually utilizing cfds yourself as well an overnight charge is when you’re refraining from doing that buy offer deal in the same day all right there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually buying the specific property rather than utilizing take advantage of anyway you will not get hit with these fees however these charges are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the same day so let’s say if you enter into the help section this isn’t the over night charges info 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 over night or you’re doing over weekends which only uses as i said to cfds there are some added fees obviously depending on what you are buying also this is on your own so keep that in mind however complete fees are completely within their assistance details fine and we discussed along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really using these copy operates they don’t have any additional fees on top of the normal costs that
are there now what you need to bear in mind though is these possibly handled by other individuals completely or sometimes have actually produced portfolios you’ve got a real individual doing the management you have to make certain you choose the individual that’s right for you similar to any profession this is your monetary possessions so we definitely need to make certain it’s the ideal individual for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual ways i believe 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 credit card information or anything you can generally have this virtual portfolio simulate as if you are using your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is an excellent choice for you again to check the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe play with it obviously you might have missed out on gains and losses throughout that time obviously if you had invested your genuine money it allows you to build confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my real 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 certain you understand what your threat profile is now what do i suggest by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i alright with potentially losing a good quantity of this financial investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that equally indicates they’ll lose eventually in their journey obviously individuals do earn money too and i have actually got videos everything about how you can make certain you’re one of individuals to in fact generate income however in this scenario make certain you research study your threat level would you be alright offering your cash to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous do not pick someone who’s completely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact use this too truly easily over here you can copy individuals now it will provide you a lot of options and you can use the system to in fact look for somebody that you expensive actually following so let’s see perhaps we desire somebody from unified kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has satisfied that requirements and it does give you a risk factor too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not imply 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 after that you know ask you to confirm are you okay with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine really that i purchase too which is great so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s also got a bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production companies as that. Coinbase Bitcin.
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