We get htis a lot on our site the answer to Bittrex Vs Kraken Vs Etoro….Questions that i speak with new investors what if you’re brand new to investing you simply do not wish to decide what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the to start with you can work with an investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can purchase mutual funds specific 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 as well now if you’re brand new to a total please bear in mind this platform is rather innovative you can do cfds which of course cfds are ways of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform do not simply presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these options since you believe is the ideal ones for you which being said 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 aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for instance 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 charges involved really important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost websites then may not charge you for actually buying and selling funds or etfs individual commodities private stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 know before you in fact begin buying copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs really important to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission charges are complimentary however there are a couple of other charges the first one is withdrawal charges so you can obviously put money in now if you remain 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 in the future however when you want to withdraw your cash so you sell your shares you sell 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 knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those choices that they have a great deal of platforms undoubtedly are 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 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you want to utilize 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 haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their costs now the great thing about however when you have actually transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy 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 actually excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we need to know two other charges the first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you
on is basically the distinction that belongs to the investment platform between the buy price and the price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that actually suggests that when you wish to purchase or offer as you can see it’s not the cost you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread costs is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind obviously it’s more costly to buy than it is to offer so they’re going to provide 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 wish to offer it and that is how they make a little bit of cash on those spread costs it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a little bit cash now the last accomplishment is called an
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overnight fee now this is truly crucial if you’re in fact utilizing cfds yourself too an overnight cost is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an over night fee charged and even if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which indicates you’re actually purchasing the specific possession rather than using take advantage of anyhow you won’t get hit with these charges however these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you enter into the help section this isn’t the overnight fees info you can see exactly the breakdown and it’ll tell 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 only uses as i stated to cfds there are some surcharges obviously depending upon what you are buying as well this is on your own so keep that in mind but full costs are entirely within their assistance info okay and we spoke about in addition to complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of in fact utilizing these copy works they don’t have any additional costs on top of the typical charges that
exist now what you need to bear in mind though is these possibly managed by other people entirely or sometimes have actually produced portfolios you have actually got a genuine individual doing the management you have to make sure you pick the person that’s right for you just like any kind of work this is your monetary assets so we absolutely require to make certain it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a fantastic choice for you again to evaluate the theories all right you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a method to type of safe play with it certainly you may have missed out on gains and losses during that time obviously if you had invested your genuine money it allows you to develop self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply implies am i all right with potentially losing an excellent quantity of this investment or getting as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money however that equally implies they’ll lose eventually in their journey undoubtedly people do generate income also and i have actually got videos all about how you can make sure you’re one of individuals to really generate income but in this scenario make certain you research your risk level would you be okay offering your money to someone else which is successfully what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re somebody who isn’t wishing to be that risky do not choose somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the 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 give you a lot of options and you can use the system to actually search for somebody that you elegant in fact following so let’s see possibly we desire someone from united kingdom um who buys let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has fulfilled that criteria and it does offer you a risk factor too so it tends to be the higher 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 resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could 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 then you know ask you to validate are you fine with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually buying 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 good to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got some of mine in fact that i buy too which is good so really 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 chooses she’s also got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production companies as that. Bittrex Vs Kraken Vs Etoro.
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