We get htis a lot on our site the answer to Charles Schawab Trading Platform….Questions that i hear from new investors what if you’re brand new to investing you simply don’t 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 take place the first of all you can work with a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally you can purchase mutual funds specific funds are developed 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 also now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t simply assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money 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 genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s financial 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 individual has stated they’ve made profit 14 months in a row purchase these options since 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
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popular for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated 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 charges included truly important you understand what are the expenses of this now with any platform there will be some cost to obviously 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 cost websites then might not charge you for in fact buying and selling funds or etfs private commodities individual 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 fees 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 know before you actually begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a number of other fees the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase 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 or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 say offer me us dollars rather you have to pay their charges now the terrific feature of however when you’ve converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their website will not definitely limit you in any way nevertheless we need to understand two other charges the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is generally the difference that is part of the financial investment platform between the buy cost 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 website today tesla’s dollar value 599 per share in tesla that really suggests that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the existing price of tesla is the worth of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of profit from you every time you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that occur 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 offer it which is how they make a little bit of money on those spread fees it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a little bit cash now the last feat is called an
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over night charge now this is really essential if you’re actually using cfds yourself also an overnight cost is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an overnight charge charged or even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one leverage which implies you’re actually purchasing the precise possession rather than using take advantage of anyway you won’t get hit with these fees but these fees are if you’re utilizing utilize and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you enter into the assistance area this isn’t the overnight fees 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 only applies as i said to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however full fees are completely within their assistance details fine and we talked about along with totally free to deposit in however 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 five dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of in fact using these copy works they don’t have any additional fees on top of the normal fees that
are there now what you require to bear in mind though is these possibly managed by other individuals entirely or sometimes have produced portfolios you’ve got a genuine person doing the management you have to make certain you pick the person that’s right for you similar to any line of work this is your monetary possessions so we definitely need to make certain it’s the right individual 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 options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual means 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 information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a great option for you again to check the theories fine you might wish to purchase tesla or apple or this etf why not use the virtual choice as a method to sort of safe play with it clearly you might have lost out on gains and losses during that time naturally if you had invested your real money it enables you to build 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 individuals and copy portfolios now here’s something to keep in mind prior to you select 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 clearly 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 run the risk of just indicates am i okay with potentially losing a good amount of this financial investment or getting as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally implies they’ll lose at some time in their journey obviously individuals do earn money as well and i’ve got videos all about how you can make sure you’re one of individuals to actually generate income however in this circumstance make sure you research your threat level would you be all right providing your money to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re purchasing fully if you’re somebody who isn’t wishing to be that risky do not pick someone who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact utilize this too actually quickly over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually search for someone that you elegant in fact following so let’s see perhaps we desire someone from united kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has met that requirements and it does give you a risk factor 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 people that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they could make four 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 verify are you all right with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she actually purchasing so let’s enter 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 understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got some of mine in fact that i buy too which is good so actually for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s likewise got a bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production business as that. Charles Schawab Trading Platform.
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