We get this a lot on our site and the answer to Thinkorswim Rejected This Account Is Not Approved For This Level Of Options Trading….Questions that i speak with new investors what if you’re brand new to investing you simply do not want to choose what you in fact want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can occur the firstly you can work with an investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe one or two percent of your earnings will go to them the other thing is naturally you can purchase mutual funds specific 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 also now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option also so you actually 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 danger this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has said they’ve made profit 14 months in a row buy these options due to the fact that you believe is the best ones for you and that being stated let’s dive straight 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’s 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 unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they purchase 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 money in so we’re going to also cover is the fees included 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 buying the selling for you there’s going to be charges included and even a few of the no charge websites then might not charge you for in fact buying and selling funds or etfs individual products private stocks.
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there’ll be costs on other parts maybe 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 show you the costs with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling all right so commission fees are free nevertheless there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 wish to withdraw your money so you sell your shares you sell 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 just withdrawing when i absolutely require to now you might state okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing however that is a charge to remember the second charge that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’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 fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever cost 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 cost is there what are they actually giving 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 offer me us dollars rather you need to pay their charges now the excellent feature of though when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests 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 additional fees so that’s actually great utilizing that part of their website will not certainly restrict you in any way however we need to be aware of two other costs the first being what’s called spread fees all right and i’m going to show you what i imply on now a spread fee 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 fine 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 actually suggests that when you want to offer 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 cost of tesla is the worth of a share what’s called spread costs is the difference then really to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you say okay well why does that occur it just does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread out fees it’s normally extremely small 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 little bit money now the last feat is called an
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overnight cost now this is truly important if you’re actually using cfds yourself as well an over night fee is when you’re not doing that buy sell deal in the same day fine there’s then an over night fee charged and even 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 actually buying out the etf the stock the commodity and utilizing time one take advantage of which indicates you’re actually buying the specific property instead of utilizing leverage anyway you will not get hit with these fees however these costs are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the help area this isn’t the over night fees 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 overnight or you’re doing over weekends and that just uses as i said to cfds there are some service charges of course depending upon what you are purchasing as well this is on your own so keep that in mind but full charges are totally within their assistance details okay and we talked about in addition to free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various ways of in fact utilizing these copy functions they don’t have any extra charges on top of the typical charges that
are there now what you need to keep in mind though is these potentially handled by other individuals completely or sometimes have developed portfolios you have actually got a real individual doing the management you need to make certain you choose the individual that’s right for you much like any type of work this is your financial properties 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 use this function we’ve got a couple of different options for us first off if you’re brand new to investing i want to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash possibly this is a great choice for you once again to test the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe have fun with it undoubtedly you might have lost out on gains and losses during that time of course if you had invested your genuine cash it permits you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk just suggests am i okay with possibly losing an excellent quantity of this financial investment or getting as
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well now remember everything is ups and downs you will make money you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly implies they’ll lose at some time in their journey undoubtedly individuals do make money also and i have actually got videos all about how you can make sure you’re one of individuals to in fact make money however in this scenario make sure you research your risk level would you be fine offering your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re somebody who isn’t wishing to be that risky don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional 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 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 choices and you can utilize the system to actually look for someone that you expensive in fact following so let’s see maybe we want someone from joined kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has fulfilled that requirements and it does provide 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 undoubtedly there are a number of people that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to validate are you alright with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really buying so let’s go 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 definitely like kind of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is excellent so really for me knowing what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the type of main food companies and you have actually got you know pharmaceutical and production business as that. Thinkorswim Rejected This Account Is Not Approved For This Level Of Options Trading.
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