We get htis a lot on our site the answer to Coinbase Vs Sfox….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply don’t want to decide what you in fact want to invest and you want someone to do it for you there’s only a couple of ways that that can occur the first of all you can work with an investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can buy mutual funds specific funds are developed 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 remember this platform is rather sophisticated you can do cfds which obviously cfds are ways of investing
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with not actually having the total of capital so with anything that you’re learning more about please do study the platform do not simply presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you in fact get used to the structure of the site and then when you’re ready to use 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 purchasing real companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has stated they have actually made earnings 14 months in a row purchase these options since you believe is the best ones for you and that 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 most likely.
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famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included truly vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine 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 absolutely no fee sites then might not charge you for in fact buying and selling etfs or funds private products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you actually start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really essential to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission charges are totally free however there are a number of other charges the first one is withdrawal fees so you can clearly 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 later but when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a lot 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 six months you know depends totally how you’re investing however that is a cost to keep in mind the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they really 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 state offer me us dollars instead you need to pay their charges now the fantastic aspect of however when you have actually transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial 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 extra charges so that’s actually great utilizing that part of their website will not certainly restrict you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform between the buy rate and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that really implies that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then actually to buy that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that occur it simply 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 want to offer it which is how they make a little bit of cash on those spread charges it’s usually exceptionally small 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 feat is called an
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overnight charge now this is really important if you’re actually using cfds yourself too an over night cost is when you’re not doing that buy offer transaction in the same day all right there’s then an overnight cost charged and even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which implies you’re really buying the precise property instead of using leverage anyway you won’t get hit with these fees however these costs are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you go into the help section this isn’t the over night costs information you can see precisely the breakdown and it’ll tell 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 uses as i stated to cfds there are some surcharges of course depending upon what you are buying as well this is on your own so keep that in mind however full charges are entirely within their help info fine and we talked about 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 cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of in fact utilizing these copy works they do not have any extra fees on top of the regular fees that
exist now what you require to keep in mind though is these potentially handled by other people entirely or sometimes have actually developed portfolios you’ve got a real person doing the management you need to ensure you select the individual that’s right for you just like any type of work this is your financial properties so we definitely require to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of various choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest real 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 need to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is a terrific option for you again to evaluate the theories fine you may wish to buy tesla or apple or this etf why not use the virtual choice as a way to kind of safe play with it obviously you may have missed out on gains and losses during that time obviously if you had invested your real money it enables 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 real portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i indicate by that obviously 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 a good quantity of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose cash but that similarly means they’ll lose eventually in their journey undoubtedly people do make money also and i have actually got videos everything about how you can make sure you’re one of the people to really earn money however in this scenario make sure you research your risk level would you be all right providing your cash to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re buying completely if you’re someone who isn’t wanting to be that risky do not choose somebody who’s completely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 actually utilize this too truly quickly over here you can copy people now it will give you a great deal of options and you can utilize the system to in fact search for somebody that you elegant in fact following so let’s see possibly we want someone from united kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds an excellent amount and i can discover everyone who has satisfied that criteria and it does provide you a threat aspect also so it tends to be the higher the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean 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 simple as clicking the copy button and off you go and then you understand ask you to validate are you all right with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine really that i invest in too which is excellent so really for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a little bit more um of the type of primary food companies and you’ve got you understand pharmaceutical and production business as that. Coinbase Vs Sfox.
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