We get this a lot on our site and the answer to Which Cryptocurrency Exchanges Work In New York….Concerns that i hear from new financiers what if you’re brand new to investing you merely do not want to decide what you actually want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can occur the firstly you can employ an investment portfolio manager they’ll usually charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can buy mutual funds particular funds are created once 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 a total please bear in mind this platform is quite advanced you can do cfds which of course cfds are methods of investing
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with not really having the full amount 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 use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the site and then 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 buying genuine business if you pick to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row purchase these options because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The 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 aspect that is probably.
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popular for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests 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 likewise cover is the charges involved actually crucial you comprehend what are the costs of this now with any platform there will be some expense 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 a few of the absolutely no fee websites then may not charge you for in fact buying and selling etfs or funds specific 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 type 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 really begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges actually important to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put money in now if you remain 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 wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly 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 fee to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that suits 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 excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there 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 provide me us dollars instead you have to pay their fees now the terrific aspect of however when you’ve converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to know 2 other fees the first being what’s called spread costs all right 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 is part of the investment platform in between the buy rate and the list price alright 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 value 599 per share in tesla that really suggests that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of profit from you each time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy 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 happen it just does that is the nature of a lot 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 charges it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit money now the last task is called an
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over night fee now this is really important if you’re in fact using cfds yourself as well an overnight cost is when you’re refraining from doing that buy offer transaction in the very same day fine there’s then an overnight cost charged and even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re actually purchasing the specific possession instead of utilizing leverage anyhow you won’t get hit with these charges however these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the aid section this isn’t the overnight charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some surcharges obviously depending on what you are investing in also this is on your own so keep that in mind however complete costs are completely within their help information okay and we spoke about as well as complimentary to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of really using these copy works they don’t have any extra fees on top of the regular fees that
exist now what you need to remember though is these possibly managed by other people entirely or sometimes have actually developed portfolios you’ve got a genuine individual doing the management you have to ensure you choose the person that’s right for you much like any profession this is your financial possessions 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 couple of various options for us firstly 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 ways i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not 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 perhaps this is a fantastic alternative for you once again to evaluate the theories alright you might wish to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe have fun with it undoubtedly you may have lost out on gains and losses throughout that time obviously if you had invested your genuine money it allows you to construct 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 really how to copy people and copy portfolios now here’s something to keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i indicate by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i all right with possibly losing a great amount of this financial investment or acquiring as
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well now keep in mind everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly means they’ll lose at some time in their journey clearly people do make money as well and i have actually got videos all about how you can make certain you’re one of individuals to actually make money but in this scenario make sure you research study your risk level would you be okay giving your cash to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that risky do not pick someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too truly quickly 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 look for someone that you expensive in fact following so let’s see perhaps we want somebody from unified kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has actually fulfilled that criteria and it does give you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
bear in mind it’s like 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 might make 4 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 understand ask you to confirm are you alright with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is good so in fact 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 companies that seems to be what she prefers she’s also got a little bit more um of the type of main food business and you’ve got you know pharmaceutical and production business as that. Which Cryptocurrency Exchanges Work In New York.
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