We get this a lot on our site and the answer to What Trading Platforms Is Bcc On….Concerns that i speak with new financiers what if you’re brand new to investing you simply do not want to choose what you in fact want to invest and you want somebody to do it for you there’s just a couple of ways that that can happen the first off you can work with a financial investment portfolio manager they’ll normally 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 naturally you can purchase mutual funds specific funds are produced once 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 too now if you’re brand new to a total 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 really having the total of capital so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you really get used 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 obviously your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row buy these options due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] so 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 aspect that is most likely.
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popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their financial 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 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 real companies 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 fee sites then might not charge you for in fact buying and selling etfs or funds 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 sort of charges 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 begin buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly essential to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission fees are complimentary however there are a number of other charges the first one is withdrawal fees so you can undoubtedly 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 offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those choices that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends completely how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great 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 great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 instead you need to pay their costs now the terrific feature of however when you’ve transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money 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 fees so that’s actually good utilizing that part of their site won’t definitely limit you in any way nevertheless we have to know two other costs the very first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is essentially the distinction that belongs to the investment platform between the buy cost and the price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that really means that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current price of tesla is the value of a share what’s called spread charges 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 undoubtedly 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 state fine well why does that happen 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 want to sell it and that is how they make a little bit of money on those spread costs it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit money now the last task is called an
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over night charge now this is truly crucial if you’re in fact utilizing cfds yourself also an over night charge is when you’re refraining from doing that buy sell transaction in the very same day fine there’s then an over night fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which suggests you’re really purchasing the precise property rather than using take advantage of anyhow you won’t get hit with these costs but these charges are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s state if you enter into the assistance section this isn’t the overnight costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the charges 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 additional charges of course depending upon what you are purchasing too this is on your own so keep that in mind however complete costs are completely within their help info alright and we spoke 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 normal product stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of actually using these copy functions they do not have any additional fees on top of the normal fees that
are there now what you require to remember though is these possibly managed by other individuals completely or in some cases have produced portfolios you’ve got a real person doing the management you need to make sure you pick the person that’s right for you just like any kind of work this is your monetary properties so we absolutely require to make sure it’s the ideal person 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 couple of different choices for us to start with 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 ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine cash perhaps this is a fantastic option for you again to evaluate the theories alright you might want to buy tesla or apple or this etf why not use the virtual alternative as a method to kind of safe have fun with it clearly you might have lost out on gains and losses throughout that time obviously if you had invested your genuine cash it allows you to construct confidence comprehend the platform so that’s one alternative 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 bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i mean 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 just implies am i all right with possibly losing an excellent amount of this financial investment or acquiring as
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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash but that equally suggests they’ll lose eventually in their journey obviously people do generate income too and i’ve got videos everything about how you can make certain you’re one of the people to in fact make money however in this scenario make sure you research your danger level would you be okay offering your money to somebody else which is successfully what you’re doing and trusting them ensure you understand what they’re buying completely if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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like gold and even oil plus more traditional etfs and index funds you may 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 really quickly over here you can copy people now it will offer you a lot of options and you can utilize the system to really look for somebody that you fancy actually following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds reasonable that sounds a good amount and i can discover everybody who has met that requirements and it does offer you a danger aspect 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 individuals that have rather high returns
remember it resembles 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 4 or minus 50 there’s no chance to guarantee 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 okay with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually 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 bit so that’s excellent to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine in fact that i invest in too which is great so in fact for me understanding what i like to invest in my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production business as that. What Trading Platforms Is Bcc On.
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