We get this a lot on our site and the answer to Robinhood Securities Llc Provide Their Federal Id Number Or Fein….Questions that i hear from new investors what if you’re brand new to investing you merely do not want to decide what you really want to invest and you want someone to do it for you there’s just a number of ways that that can happen the first off you can work with a financial investment portfolio supervisor they’ll usually charge a rather a high premium to do that maybe one or two 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 an overall please bear in mind this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you in fact get utilized 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 danger this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these choices because you think is the ideal 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 understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
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famous for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved actually crucial you comprehend 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 some of the no fee sites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission costs are free however there are a number of other charges 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 instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer 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 of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a charge to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’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 buying or perhaps 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 using trading two and two free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they in fact giving 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 give me us dollars instead you have to pay their fees now the great aspect of however when you have actually transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you
on is generally the difference that is part of the investment platform in between the buy price and the price alright it’s their premium on doing both those 2 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 indicates that when you wish to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread costs 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 make money from you each time you do a buyer’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to give you less back with your sale and you state okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread fees it’s normally exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last feat is called an
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over night cost now this is truly crucial if you’re in fact using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell transaction in the very same day fine there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which means you’re really purchasing the exact possession instead of using leverage anyhow 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 say if you go into the assistance 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 which just uses as i stated to cfds there are some surcharges naturally depending upon what you are buying as well this is on your own so keep that in mind however full fees are totally within their help info fine and we talked about in addition to totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical 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 2 different ways of actually utilizing these copy works they don’t have any extra fees on top of the regular fees that
are there now what you need to remember though is these possibly managed by other people entirely or in some cases have produced portfolios you have actually got a genuine individual doing the management you need to make sure you pick the person that’s right for you much like any profession this is your monetary properties so we absolutely need to make sure it’s the best individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of various alternatives 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 methods i think 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 information or anything you can essentially have this virtual portfolio mimic as if you are using your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is an excellent 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 method to kind of safe play with it certainly you might have missed out on gains and losses during that time of course if you had actually invested your genuine money it enables you to build 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 actually how to copy people and copy portfolios now here’s something to keep in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i indicate 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 run the risk of just means am i okay with potentially losing a great quantity of this investment or gaining as
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well now remember whatever is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money however that similarly indicates they’ll lose at some point in their journey obviously individuals do earn money also and i have actually got videos everything about how you can make sure you are among the people to in fact make money however in this scenario ensure you research your threat level would you be all right providing your money to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re someone who isn’t wishing to be that risky don’t pick somebody who’s totally into crypto or currency conversion think of it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact use this too actually easily over here you can copy people now it will provide you a lot of options and you can utilize the system to really look for someone that you fancy in fact following so let’s see possibly we desire somebody from joined kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has met that requirements and it does offer you a threat element also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of people that have rather high returns
bear in mind it resembles 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 chance 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 verify 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 in fact 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 absolutely like kind of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is good so really for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production companies as that. Robinhood Securities Llc Provide Their Federal Id Number Or Fein.
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