We get this a lot on our site and the answer to Todd Harrison Best Trading Platforms….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 desire someone to do it for you there’s just a number of ways that that can happen the to start with you can work with a financial investment portfolio manager they’ll usually 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 of course you can buy mutual funds specific funds are created 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 remember this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not actually 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 play around with it even invest with virtual cash they consider that option as well so you really get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row purchase these options since 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 becomes part of social trading which is one aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included truly critical you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge websites then might not charge you for really buying and selling etfs or funds private commodities private 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 kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you actually start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with costs actually crucial to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission costs are free nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms obviously 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 completely how you’re investing however that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice 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 anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have 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 giving 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 offer me us dollars instead you need to pay their charges now the excellent thing about though when you’ve transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website won’t certainly limit you in any way however we have to know two other costs the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the financial investment platform in between the buy price and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really means that when you wish to sell or purchase as you can see it’s not the rate you’re seeing up here let me show you that once again so the existing price of tesla is the worth of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind obviously it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread charges it’s usually incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit money now the last feat is called an
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overnight cost now this is really important if you’re actually using cfds yourself as well an over night charge is when you’re refraining from doing that buy offer transaction in the very same day all right there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re in fact purchasing the specific property rather than using take advantage of anyhow you won’t get hit with these costs but these costs are if you’re using 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 enter into the assistance section this isn’t the overnight costs info you can see precisely 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 just applies as i said to cfds there are some surcharges of course depending on what you are buying too this is on your own so keep that in mind but full costs are entirely within their assistance information alright and we discussed as well as free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of in fact using these copy works they do not have any additional costs on top of the typical costs that
exist now what you need to keep in mind though is these possibly managed by other individuals entirely or often have actually created portfolios you have actually got a genuine person doing the management you have to make certain you choose the person that’s right for you much like any profession this is your monetary assets so we absolutely need to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to use this function we have actually got a number of different options for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual ways i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your charge card information or anything you can generally have this virtual portfolio simulate 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 comfy with using your genuine cash possibly this is an excellent option for you again to check the theories alright you may want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe play with it obviously you may have missed out on gains and losses during that time obviously if you had invested your real cash it permits you to construct self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to remember before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i indicate by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of simply indicates am i okay with potentially losing a great amount of this investment or acquiring as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally indicates they’ll lose eventually in their journey clearly individuals do generate income too and i have actually got videos everything about how you can ensure you’re one of individuals to in fact earn money but in this circumstance make sure you research study your danger level would you be okay giving your money to somebody else which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t choose somebody who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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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 exact same with who you’re following now as i say you can in fact use this too truly quickly over here you can copy people now it will offer you a great deal of options and you can use the system to in fact search for somebody that you elegant really following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a good amount and i can find everyone who has met that criteria and it does give you a danger factor too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
keep in mind it resembles anything to do with the news or predictions 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 chance to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to validate are you alright with this and off you go now another method to really deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact purchasing 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 great to understand ibm paypal yep she’s certainly like sort of into those blue box and the tech industry she’s got a few of mine actually that i purchase too which is great so in fact for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the kind of primary food companies and you have actually got you understand pharmaceutical and production business as that. Todd Harrison Best Trading Platforms.
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