We get this a lot on our site and the answer to Ibit Cryptocurrency Trading….Concerns that i speak with new financiers what if you’re brand new to investing you merely do not want to decide what you actually want to invest and you desire someone to do it for you there’s just a number of ways that that can happen the firstly you can employ a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds particular 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 too now if you’re brand new to an overall please bear in mind this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you really get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re talking about 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 since that individual has stated they have actually made earnings 14 months in a row purchase these options because you think is the best ones for you which being stated let’s dive straight 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 element that is probably.
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well-known for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their 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 included really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 zero charge websites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 start buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly crucial to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can obviously put money in now if you’re 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 in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum amount 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 certain that i’m just withdrawing when i definitely require to now you might say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those alternatives that they have a great deal of platforms undoubtedly are totally free 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 when every six months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling 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 anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i expect stuck with whatever fee 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 fee is there what are they actually 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 say provide me us dollars instead you have to pay their charges now the excellent thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase 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 truly great using that part of their site will not certainly restrict you in any way however we have to know two other fees the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is essentially the distinction that becomes part of the financial investment platform in between the buy cost and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that in fact means that when you wish to sell or buy as you can see it’s not the cost you’re seeing up here let me show you that again so the present cost of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to provide you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a bit of money on those spread out fees it’s generally 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 cash now the last task is called an
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overnight fee now this is really crucial if you’re really utilizing cfds yourself as well an overnight charge is when you’re not doing that buy sell transaction in the same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which suggests you’re actually purchasing the exact asset rather than utilizing utilize anyway you won’t get hit with these charges however these charges are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s say if you enter into the help section this isn’t the over night fees details you can see precisely 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 which just applies as i said to cfds there are some surcharges obviously depending on what you are purchasing too this is on your own so keep that in mind but complete charges are completely within their aid information alright and we spoke about in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact using these copy operates they don’t have any extra fees on top of the regular costs that
are there now what you require to keep in mind though is these potentially handled by other individuals entirely or often have produced portfolios you’ve got a genuine person doing the management you need to make certain you pick the person that’s right for you similar to any type of work this is your monetary possessions 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 couple of various options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your genuine money perhaps this is a fantastic choice for you again to test the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time obviously if you had actually invested your real cash it enables you to develop confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really 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 threat profile is now what do i suggest by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply implies am i all right with potentially losing a great amount of this financial investment or acquiring as
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well now remember everything is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly indicates they’ll lose eventually in their journey undoubtedly people do earn money too and i have actually got videos all about how you can make sure you are among the people to actually earn money however in this circumstance make sure you research your danger level would you be alright providing your cash to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re buying completely if you’re someone who isn’t wishing to be that dangerous don’t select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might 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 really quickly over here you can copy people now it will give you a great deal of choices and you can use the system to really look for somebody that you elegant in fact following so let’s see maybe we want somebody from joined kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has actually fulfilled that criteria and it does provide you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a variety of people that have quite 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 4 or minus 50 there’s no way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to confirm are you fine with this and off you go now another way to actually deep dive if we click on this person for example 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 quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent 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 in fact that i invest in too which is good so actually for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a little bit more um of the kind of primary food business and you have actually got you understand pharmaceutical and production business as that. Ibit Cryptocurrency Trading.
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