We get this a lot on our site and the answer to Cryptocurrency In Thinkorswim….Questions that i speak with brand-new investors what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire someone to do it for you there’s just a number of ways that that can take place the first off you can hire a financial investment portfolio manager they’ll generally charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 as well now if you’re brand new to a total please remember this platform is rather advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just assume because i utilize it that you can use 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 in fact get utilized to the structure of the website 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 investing in real business if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row invest in these options because 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 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 alternative to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your money will be imitated 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 money in so we’re going to likewise cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then might not charge you for in fact buying and selling funds or etfs individual products private stocks.
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there’ll be fees 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 show you the costs with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs really important to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling alright so commission fees are complimentary however there are a number of other charges the very first one is withdrawal charges so you can certainly 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 on however when you wish to withdraw your cash so you offer 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 five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s fine that suits me.
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a great deal 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 fee now when you utilize anyone so if you’re using trading 2 and two open market anybody this is standard they have i suppose stuck to whatever cost 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 charge exists 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 offer me us dollars rather you have to pay their charges now the great feature of though when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that indicates 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 costs so that’s really great using that part of their site won’t certainly limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread charge as i’m going to show you
on is generally the distinction that belongs to the financial investment platform in between the buy price and the price all right 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 value 599 per share in tesla that in fact means 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 worth of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of profit from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to give you less back with your sale and you state all right well why does that happen it just 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 wish to offer it which is how they make a bit of cash on those spread out charges it’s typically extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit cash now the last task is called an
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over night charge now this is really important if you’re in fact using cfds yourself too an over night cost is when you’re refraining from doing that buy offer deal in the exact same day all right there’s then an over night 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 product and utilizing time one leverage which implies you’re really purchasing the specific possession instead of using leverage anyway you will not get hit with these costs but these costs are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s say if you go into the help section this isn’t the over night costs 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 applies as i said to cfds there are some additional charges of course depending on what you are investing in also this is on your own so keep that in mind however complete costs are entirely within their assistance info all right and we talked about as well as free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of actually utilizing these copy operates they don’t have any extra fees on top of the typical costs that
are there now what you require to remember though is these possibly handled by other people totally or in some cases have actually created portfolios you’ve got a real individual doing the management you have 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 ideal person for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of different choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine 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 need to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real money perhaps this is an excellent option for you again to test the theories okay you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to sort of safe play with it certainly you might have lost out on gains and losses during that time obviously if you had actually invested your real cash it enables you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to keep 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 suggest by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of just suggests am i fine with possibly losing an excellent amount of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly suggests they’ll lose eventually in their journey obviously people do make money as well and i have actually got videos everything about how you can ensure you’re one of the people to actually earn money but in this scenario make sure you research your danger level would you be fine offering your cash to another person which is efficiently what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re somebody who isn’t wanting to be that risky don’t choose someone who’s entirely into crypto or currency conversion think about it you ‘d most likely desire a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really utilize this too actually quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to actually look for somebody that you expensive in fact following so let’s see maybe we desire someone from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually fulfilled that criteria and it does provide you a threat factor as well 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 mean somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance 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 validate are you alright with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she really investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production companies as that. Cryptocurrency In Thinkorswim.
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