We get this a lot on our site and the answer to Which Cryptocurrency Exchanges Trade In New York….Concerns that i hear from new investors what if you’re brand new to investing you merely don’t want to decide what you really want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can take place the firstly you can work with an investment portfolio manager they’ll usually charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are produced 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 also now if you’re brand new to a total please keep in mind this platform is quite innovative you can do cfds which naturally 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 simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they’ve made earnings 14 months in a row purchase these options since you believe is the best ones for you which 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 belongs to 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 usually 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 cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their 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 costs involved really crucial 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 purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
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there’ll be fees on other parts maybe 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 costs with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually essential to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission fees are totally free however there are a number of other fees the very first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
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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 cash so you offer your shares you offer 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 may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends totally how you’re investing however that is a cost to remember the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great 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 anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually providing you in terms of 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 state offer me us dollars instead you need to pay their charges now the fantastic feature of though when you’ve transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their site will not definitely limit you in any way nevertheless we have to understand 2 other charges the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread charge as i’m going to reveal you
on is essentially the difference that becomes part of the investment platform between the buy price and the sale price fine 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 actually suggests that when you wish to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing cost of tesla is the value of a share what’s called spread charges is the distinction then in fact to purchase 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 every time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that occur 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 wish to sell it and that is how they make a bit of cash on those spread out costs it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last task is called an
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over night cost now this is actually essential if you’re really utilizing cfds yourself too an over night fee is when you’re not doing that buy sell deal in the exact 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 just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which indicates you’re really purchasing the exact property instead of using leverage anyhow you won’t get hit with these charges but these charges are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the very same day so let’s state if you enter 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 costs then for when you’re doing over night or you’re doing over weekends which just applies as i said to cfds there are some added fees of course depending on what you are investing in also this is on your own so keep that in mind however full fees are entirely within their help info all right and we talked about along with free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of really using these copy functions they do not have any extra costs on top of the typical charges that
are there now what you need to keep in mind though is these potentially managed by other individuals totally or often have developed portfolios you’ve got a genuine person doing the management you have to ensure you choose the individual that’s right for you much like any type of work this is your financial properties so we absolutely require to ensure 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 use this function we have actually got a number of different choices for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a terrific option for you again to evaluate the theories all right you may wish to buy tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it obviously you may have lost out on gains and losses during that time obviously 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 real 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 before you choose someone that you’re going to copy or a portfolio you’re going to copy make sure 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 state the longer you’re leaving your investments the riskier you can be run the risk of just indicates am i fine with potentially losing a great quantity of this investment or acquiring as
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well now remember everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 individuals will lose cash however that similarly suggests they’ll lose at some time in their journey clearly individuals do earn money as well and i have actually got videos everything about how you can make certain you’re one of the people to really make money however in this circumstance make sure you research your danger level would you be fine offering your cash to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re someone who isn’t wishing to be that dangerous don’t select someone who’s totally into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold or perhaps 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 use this too truly easily over here you can copy people now it will provide you a great deal of choices and you can use the system to in fact search for someone that you expensive in fact following so let’s see possibly we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has satisfied that requirements and it does offer you a threat factor also 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 quite high returns
remember 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 basic 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 this person for example ruby mza as an example you can really deep dive into what is she in fact investing in 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 excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is great so actually for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s also got a bit more um of the kind of main food companies and you’ve got you know pharmaceutical and production companies as that. Which Cryptocurrency Exchanges Trade In New York.
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