We get htis a lot on our site the answer to Authortest….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you actually wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can take place the first off you can employ an investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 bear in mind this platform is quite innovative you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not just presume since 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 as well so you actually get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row invest in these choices since you think is the ideal ones for you which being said 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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well-known 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 implies with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really vital you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then may not charge you for really buying and selling funds or etfs private products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and finally some finest advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with fees truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling alright so commission costs are complimentary however there are a number of other costs the very first one is withdrawal fees 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 cash so you offer your shares you sell 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 obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you might say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those choices that they have a great deal of platforms obviously 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 as soon as every six months you understand depends entirely how you’re investing however that is a cost to remember the 2nd charge that i have actually discussed is that conversion charge 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 matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually providing you in regards to 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 say provide me us dollars instead you have to pay their costs now the terrific thing about however when you’ve converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their website won’t certainly limit you in any way however we have to be aware of two other fees the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you
on is basically the difference that becomes part of the financial investment platform between the buy rate 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 worth 599 per share in tesla that actually indicates that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the present price of tesla is the value 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 manner in which they make a percentage of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more costly to buy than it is to sell so they’re going to provide you less back with your sale and you state all right well why does that happen it just does that is the nature of a lot 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 bit of cash on those spread costs it’s typically exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit money now the last accomplishment is called an
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overnight charge now this is really essential if you’re in fact using cfds yourself as well 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 over night fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which suggests you’re really buying the precise asset instead of using utilize anyhow you won’t get hit with these costs however these charges are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you go into the aid area this isn’t the overnight costs details you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i stated to cfds there are some surcharges of course depending upon what you are investing in as well this is on your own so keep that in mind however complete fees are totally within their assistance information fine and we discussed in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really utilizing these copy works they do not have any additional charges on top of the normal costs that
are there now what you need to remember though is these possibly managed by other people entirely or in some cases have actually produced portfolios you have actually got a genuine person doing the management you have to make sure you choose the individual that’s right for you much like any type of work this is your financial properties so we absolutely need to make certain it’s the best person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a number of various alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual means 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 need to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash however really buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash perhaps this is a great option for you once again to check the theories alright you might want to purchase tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it clearly you might have missed out on gains and losses throughout that time naturally if you had invested your genuine money it permits you to build confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember before you pick somebody 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 undoubtedly 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 implies am i fine with possibly losing an excellent amount of this investment or gaining as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the statistic 75 people will lose cash but that similarly implies they’ll lose at some point in their journey certainly people do earn money too and i have actually got videos everything about how you can make certain you are among individuals to really generate income but in this situation make certain you research study your risk level would you be fine providing your cash to another person which is effectively what you’re doing and trusting them make sure you understand what they’re buying fully if you’re someone who isn’t wishing to be that dangerous 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 or even oil plus more conventional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually utilize this too truly quickly over here you can copy individuals now it will provide you a great deal of choices and you can utilize the system to really search for somebody that you expensive actually following so let’s see possibly we desire somebody from united kingdom um who purchases 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 find everybody who has actually satisfied that requirements and it does provide you a danger aspect too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not imply someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you know ask you to verify are you alright with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can actually 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 bit so that’s great to know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is great so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Authortest.
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