We get this a lot on our site and the answer to Truth About Trading Cryptocurrency….Questions that i speak with new financiers what if you’re brand new to investing you just do not wish to decide what you in fact want to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the first of all you can hire an investment portfolio supervisor they’ll generally charge a rather a high premium to do that perhaps 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 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 too now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re finding out about please do study the platform do not just assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something because that individual has said they have actually made profit 14 months in a row purchase these choices since you believe is the right ones for you which 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 element that is probably.
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popular for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for instance 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 fees included actually vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 actually begin purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs actually crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission fees are complimentary nevertheless there are a number of other costs the first one is withdrawal charges so you can clearly put money in now if you remain 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 but when you wish to withdraw your money so you offer your shares you sell your commodities 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those choices that they have a great deal of platforms undoubtedly are totally free 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 entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering 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 say offer me us dollars instead you have to pay their costs now the great thing about though when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their website will not certainly restrict you in any way nevertheless we need to understand two other costs the very first being what’s called spread fees okay and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is basically the difference that belongs to 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 website right now tesla’s dollar value 599 per share in tesla that really means that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me show you that again so the existing rate of tesla is the value of a share what’s called spread costs is the distinction then really to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you say fine well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread charges it’s usually exceptionally 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 cash now the last accomplishment is called an
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over night charge now this is really essential 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 all right there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which implies you’re really purchasing the precise property rather than using leverage anyhow you won’t get hit with these fees but these costs are if you’re utilizing leverage and cfds and then you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you go into the aid section this isn’t the over night costs details you can see exactly 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 just applies as i stated to cfds there are some surcharges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete fees are completely within their help details alright and we talked about in addition to complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product 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 different ways of really utilizing these copy functions they do not have any additional fees on top of the normal fees that
exist now what you need to keep in mind though is these possibly managed by other people totally or sometimes have actually created portfolios you have actually got a genuine person doing the management you need to make certain you pick the individual that’s right for you much like any type of work this is your financial possessions so we absolutely need to make certain it’s the right 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 options for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own cash however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a fantastic choice for you once again to check the theories all right you may wish to buy tesla or apple or this etf why not utilize the virtual choice as a method to sort of safe have fun with it obviously you may have missed out on gains and losses during that time of course if you had invested your real money it allows you to build confidence comprehend the platform so that’s one choice 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 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 ensure you comprehend what your danger profile is now what do i suggest by that clearly 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 simply implies am i alright with potentially losing a good amount of this financial investment or acquiring as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly means they’ll lose eventually in their journey obviously individuals do make money also and i’ve got videos all about how you can ensure you are among the people to really make money but in this circumstance make sure you research study your risk level would you be okay providing your cash to another person which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wanting to be that risky don’t select somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too really easily over here you can copy people now it will offer you a great deal of choices and you can use the system to actually search for somebody that you elegant in fact following so let’s see maybe we want somebody from joined kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds a good amount and i can discover everybody who has satisfied that criteria and it does provide you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
remember it’s like anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really buying 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 great to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine really that i purchase too which is excellent so really for me understanding what i like to purchase my private 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 also got a little bit more um of the kind of main food companies and you’ve got you know pharmaceutical and production companies as that. Truth About Trading Cryptocurrency.
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