We get this a lot on our site and the answer to Coinbase Vs Iconomi….Concerns that i hear from new investors what if you’re brand new to investing you just do not want to choose what you actually wish to invest and you desire someone to do it for you there’s just a number of manner ins which that can take place the firstly you can work with an investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously 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 too now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which of course 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 do not simply presume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you really get utilized to the structure of the site and after that 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 purchasing real business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row invest in these choices since you believe is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding 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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well-known for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that implies 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 charges included really crucial you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds specific products individual stocks.
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there’ll be costs on other parts maybe 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 fees with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with charges truly important to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put money 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 on however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say alright that’s rather pricey 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 simply one of those choices that they have a lot 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 know depends totally how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really providing 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 state provide me us dollars rather you have to pay their fees now the terrific aspect of however when you have actually converted your money 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 indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site won’t definitely restrict you in any way however we need to know 2 other fees the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is basically the distinction that becomes part of the investment platform between the buy price 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 website right now tesla’s dollar worth 599 per share in tesla that really implies that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the existing cost 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 percentage of profit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase 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 happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you want to offer it which is how they make a little bit of cash on those spread out fees it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last feat is called an
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over night charge now this is actually essential if you’re actually using cfds yourself as well an overnight fee is when you’re not doing that buy offer deal in the same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which suggests you’re really purchasing the exact asset rather than utilizing utilize anyway you will not get hit with these charges but these charges are if you’re using 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 state 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 charges then for when you’re doing overnight or you’re doing over weekends which just uses as i stated to cfds there are some surcharges naturally depending upon what you are buying too this is on your own so keep that in mind but full fees are totally within their aid information fine and we spoke about in addition to free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal 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 two different methods of in fact utilizing these copy works they do not have any extra fees on top of the typical fees that
exist now what you require to bear in mind though is these possibly handled by other individuals entirely or in some cases have produced portfolios you have actually got a genuine person doing the management you need to make certain you pick the person that’s right for you just like any line of work this is your financial assets so we absolutely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real money 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 will not need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own cash however really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money maybe this is a fantastic alternative for you again to test the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it clearly you might have lost out on gains and losses throughout that time of course if you had invested your real money it permits you to develop confidence comprehend the platform so that’s one choice for you then next week and i’m going to return 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 select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i indicate by that obviously 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 just implies am i fine with potentially losing a great quantity of this financial investment or gaining as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that equally suggests they’ll lose at some point in their journey undoubtedly individuals do generate income too and i have actually got videos all about how you can make sure you are among individuals to really generate income however in this situation make sure you research study your risk level would you be okay giving your cash to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not select somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can really utilize this too truly quickly over here you can copy individuals now it will provide you a great deal of options and you can use the system to actually search for someone that you fancy in fact following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has actually met that requirements and it does offer you a danger aspect as well 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 individuals that have rather high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to confirm are you alright with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact buying so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to understand ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine really that i purchase too which is good so really for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production companies as that. Coinbase Vs Iconomi.
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