Robinhood App We Could Not Approve Your Application 2021 | MBC

We get this a lot on our site and the answer to Robinhood App We Could Not Approve Your Application….Questions that i speak with new investors what if you’re brand new to investing you just do not wish to decide what you in fact wish to invest and you want somebody to do it for you there’s just a couple of ways that that can take place the to start with you can work with a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that perhaps one or two percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are created again with an account manager 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 remember this platform is rather advanced you can do cfds which of course 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 do not simply presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the website and then when you’re ready to use your own cash 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 select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row buy these options since you believe is the right ones for you and that being said 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’s part of social trading which is one element that is probably.

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popular for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your money will be simulated 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 cash in so we’re going to also cover is the costs involved actually critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge websites then might not charge you for really buying and selling funds or etfs specific commodities specific 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 type of charges 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 understand prior to you actually start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges truly essential to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission costs are free nevertheless there are a number of other charges the first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk cash.

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and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those options that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing however that is a charge to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches 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 good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually providing you in terms of 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 give me us dollars rather you have to pay their charges now the fantastic thing about though when you have actually transformed your cash you do not have to invest it immediately 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 buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you

on is generally the difference that becomes part of the investment platform in between the buy price and the sale price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that actually means that when you want to sell or buy as you can see it’s not the price you’re seeing up here let me show you that again so the present rate of tesla is the value of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that occur 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 wish to offer it which is how they make a bit of cash on those spread out costs it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit money now the last accomplishment is called an

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over night cost now this is really important if you’re actually using cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer deal in the same day fine there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which implies you’re actually purchasing the specific asset rather than utilizing utilize anyhow you will not get hit with these fees but these fees are if you’re utilizing utilize 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 go into the help section this isn’t the overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some added fees obviously depending on what you are purchasing too this is on your own so keep that in mind but complete costs are completely within their assistance info all right and we spoke about as well as totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy functions they don’t have any extra fees on top of the regular fees that

exist now what you need to remember though is these possibly handled by other individuals entirely or sometimes have created portfolios you’ve got a real individual doing the management you have to make sure you pick the individual that’s right for you just like any type of work this is your financial properties so we absolutely need to make certain it’s the ideal person 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 first of all if you’re brand new to investing i wish to draw your attention to this within you have the option 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 cash that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash but actually buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with utilizing your real cash maybe this is a great choice for you again to test the theories fine you may want to buy tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it obviously you might have lost out on gains and losses during that time naturally if you had invested your genuine cash it enables you to develop confidence understand the platform so that’s one choice 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 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 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 financial investments the riskier you can be risk just indicates am i alright with potentially losing an excellent amount of this financial investment or getting as

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well now keep in mind whatever is ups and downs you will make money you’ll lose money that’s why they make the fact 75 people will lose money but that similarly suggests they’ll lose at some point in their journey obviously people do generate income also and i’ve got videos everything about how you can ensure you’re one of the people to actually make money but in this circumstance make certain you research your threat level would you be okay providing your money to someone else which is successfully what you’re doing and trusting them make certain you understand what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous don’t select someone who’s completely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products

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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually utilize this too actually quickly over here you can copy individuals now it will provide you a great deal of options and you can utilize the system to really search for someone that you expensive in fact following so let’s see maybe we want someone from unified kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has actually satisfied that requirements and it does provide you a risk factor 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 people that have rather high returns

keep in mind it’s like anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance 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 way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she actually 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 bit so that’s great to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is excellent so actually for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a bit more um of the type of main food companies and you have actually got you know pharmaceutical and production companies as that. Robinhood App We Could Not Approve Your Application.

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