We get this a lot on our site and the answer to Fidelity Symbol For Crypto Currency….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t wish to choose what you in fact want to invest and you desire somebody to do it for you there’s only a number of ways that that can happen the to start with you can work with an investment portfolio manager they’ll generally charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are developed 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 an overall please keep in mind this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply 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 cash they consider that choice as well so you really get utilized to the structure of the website 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 threat this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually stated they’ve made revenue 14 months in a row purchase these options because you think is the right ones for you which being stated let’s dive directly in [Music] so the important 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 aspect that is most likely.
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well-known for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee 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 changing from uk to u.s dollars there’s all kinds of fees 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 before you in fact begin purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually essential to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling all right so commission charges are free nevertheless there are a number of other fees the very first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
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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 money so you sell your shares you offer 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just among those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i have actually 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 and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and state give me us dollars instead you need to pay their charges now the great feature of however when you’ve transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their site will not certainly restrict you in any way however we have to be aware of two other fees the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you
on is basically the difference that becomes part of the investment platform in between the buy price and the sale price okay it’s their premium on doing both those two 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 indicates that when you wish to buy or sell as you can see it’s not the rate you’re seeing up here let me show you that again so the current cost of tesla is the value of a share what’s called spread charges is the difference then really 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 benefit from you whenever you do a purchaser’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 state okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a little bit of cash on those spread costs it’s usually exceptionally small 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 task is called an
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over night charge now this is actually important if you’re actually utilizing cfds yourself as well an over night cost is when you’re refraining from doing that buy offer deal in the same day alright there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one take advantage of which means you’re really buying the exact property instead of utilizing utilize anyway you won’t get hit with these charges however these charges are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the aid area this isn’t the over night charges information you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night 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 as well this is on your own so keep that in mind however full costs are totally within their assistance info alright and we spoke about as well as complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of really using these copy functions they do not have any additional charges on top of the typical costs that
are there now what you need to keep in mind though is these possibly handled by other people totally or sometimes have actually created portfolios you’ve got a genuine person doing the management you have to make sure you select the person that’s right for you similar to any type of work this is your financial assets so we absolutely need to make certain it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of various alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash 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 won’t need to put in your charge card information or anything you can essentially have this virtual portfolio imitate 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 utilizing your real cash possibly this is an excellent option for you once again to check the theories all right you may want to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe have fun with it obviously you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine cash it enables you to develop 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 actually how to copy individuals and copy portfolios now here’s something to remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend 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 financial investments the riskier you can be run the risk of simply means am i all right with potentially losing a great quantity of this investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money however that equally indicates they’ll lose at some point in their journey obviously people do generate income as well and i have actually got videos everything about how you can ensure you’re one of individuals to actually earn money but in this situation ensure you research your danger level would you be fine offering your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous do not choose somebody who’s totally into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you may 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 utilize this too really quickly over here you can copy individuals now it will give you a great deal of options and you can utilize the system to really look for someone that you fancy actually following so let’s see perhaps we want somebody from joined kingdom um who buys let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everyone who has actually fulfilled that requirements and it does give you a risk element as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have quite high returns
bear in mind it’s like anything to do with the news or predictions 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 understand ask you to verify are you fine 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 actually deep dive into what is she in fact investing in 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 good to know ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got some of mine really that i buy too which is good so in fact for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production business as that. Fidelity Symbol For Crypto Currency.
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