We get this a lot on our site and the answer to Is Bitcoin Trading Haram….Questions that i hear from brand-new investors what if you’re brand new to investing you just don’t wish to decide what you really wish to invest and you want someone to do it for you there’s only a couple of ways that that can take place the first off you can hire an investment portfolio supervisor they’ll usually charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are created 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 also now if you’re brand new to a total please bear in mind this platform is quite innovative you can do cfds which naturally 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 about please do study the platform don’t 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 option as well so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something because that person has said they’ve made profit 14 months in a row buy these choices since you believe is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
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well-known for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of options and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for example 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 charges included actually important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then may not charge you for really buying and selling etfs or funds private commodities individual stocks.
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there’ll be fees 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 costs with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling fine so commission costs are free however there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling 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 knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a fee to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just 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 even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they really 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 state give me us dollars instead you need to pay their charges now the great aspect of however when you have actually converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that means 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 extra charges so that’s actually excellent using that part of their site won’t certainly limit you in any way however we have to understand 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread cost as i’m going to show you
on is basically the difference that is part of the investment platform in between the buy rate and the list price okay 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 wish to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you state fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread fees it’s typically incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit cash now the last accomplishment is called an
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overnight cost now this is actually important if you’re in fact using cfds yourself as well an over night charge is when you’re not doing that buy sell deal in the exact same day alright there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which implies you’re really purchasing the specific possession instead of using take advantage of anyhow you won’t get hit with these fees however these costs are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s say if you go into the assistance area this isn’t the over night fees information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs 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 added fees obviously depending on what you are purchasing also this is on your own so keep that in mind but full charges are entirely within their aid info fine and we discussed along with totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity 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 2 various ways of actually utilizing these copy functions they do not have any additional costs on top of the typical costs that
are there now what you require to keep in mind though is these potentially handled by other individuals entirely or in some cases have developed portfolios you’ve got a genuine person doing the management you need to make certain you select the individual that’s right for you just like any line of work this is your monetary assets so we definitely need to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various choices for us firstly 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 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 details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash possibly this is a terrific choice for you again to evaluate the theories alright you might 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 certainly you may have lost out on gains and losses during that time obviously if you had actually invested your genuine cash it permits you to develop self-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 really how to copy individuals and copy portfolios now here’s something to remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure 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 state the longer you’re leaving your financial investments the riskier you can be run the risk of just suggests am i okay with possibly losing a good amount of this investment or getting as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash but that equally suggests they’ll lose eventually in their journey obviously people do make money also and i’ve got videos everything about how you can ensure you are among the people to actually earn money however in this circumstance ensure you research study your danger level would you be all right providing your money to someone else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that risky do not choose someone who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone 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 very same with who you’re following now as i say you can in fact utilize this too really easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to in fact look for someone that you fancy in fact following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has satisfied that requirements and it does give you a risk element 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 variety of people 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 indicate someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to confirm are you fine with this and off you go now another way to really deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she actually 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 little bit so that’s excellent to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is excellent so actually for me understanding 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 prefers she’s likewise got a bit more um of the sort of primary food companies and you have actually got you know pharmaceutical and production companies as that. Is Bitcoin Trading Haram.
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