We get this a lot on our site and the answer to Emilie Choie Coinbase….Questions that i hear from new financiers what if you’re brand new to investing you just don’t want to decide what you really 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 first of all you can employ an investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can buy mutual funds specific funds are produced once 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 bear in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform do not simply presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get used to the structure of the site 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 risk this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row invest in these choices because you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to 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 extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for instance 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 involved actually critical you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee sites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 before you really start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually important to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission charges are complimentary however there are a couple of other costs the 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 instantly 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 offer your commodities 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 make certain that i’m just withdrawing when i definitely require to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and say provide me us dollars rather you have to pay their charges now the excellent aspect of though when you have actually 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 indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent using that part of their website will not definitely restrict you in any way however we have to understand 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread fee as i’m going to show you
on is generally the distinction that belongs to the investment platform in between the buy price and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really means that when you want to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that once again so the current price of tesla is the value of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to offer 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 difference between if you’re buying it then you wish to offer it and that is how they make a bit of money 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 feat is called an
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over night cost now this is truly essential if you’re actually using cfds yourself as well an overnight charge is when you’re not doing that buy offer deal in the exact same day all right there’s then an overnight cost charged or even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re actually purchasing the precise property instead of using leverage anyway you won’t get hit with these fees however these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these costs if you’re not buy offering 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 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 uses as i stated to cfds there are some additional charges obviously depending on what you are investing in as well this is on your own so keep that in mind however complete fees are totally within their aid info okay and we talked about in addition to free to deposit in however 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of actually using these copy operates they don’t have any extra fees on top of the regular costs that
exist now what you need to keep in mind though is these possibly handled by other people completely or in some cases have actually produced portfolios you’ve got a real individual doing the management you have to make sure you pick the individual that’s right for you similar to any kind of work this is your financial possessions so we absolutely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of various choices for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own cash however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash maybe this is a terrific choice for you once again to test the theories all right you may want to purchase tesla or apple or this etf why not use the virtual choice as a way to type of safe have fun with it obviously you might have missed out on gains and losses during that time naturally if you had actually invested your real money it permits you to build confidence understand the platform so that’s one choice 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 people and copy portfolios now here’s something to bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i imply by that undoubtedly 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 suggests am i okay with potentially losing an excellent quantity of this investment or gaining as
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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that equally means they’ll lose at some point in their journey obviously individuals do generate income also and i’ve got videos all about how you can make certain you are among the people to really generate income but in this situation ensure you research your threat level would you be alright providing your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing totally if you’re somebody who isn’t wanting to be that risky don’t select someone who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities
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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 actually use this too actually easily over here you can copy individuals now it will offer you a great deal of options and you can use the system to really look for someone that you elegant in fact following so let’s see perhaps we desire somebody 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 amount and i can discover everybody who has fulfilled that requirements and it does provide you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals 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 someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to guarantee 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 verify are you all right with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really buying so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech market she’s got some of mine actually that i buy too which is excellent 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 companies that seems to be what she chooses she’s likewise got a little bit more um of the type of primary food business and you have actually got you understand pharmaceutical and production business as that. Emilie Choie Coinbase.
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