We get htis a lot on our site the answer to Find A Free Cryptocurrency Trading Mentor….Questions that i hear from new financiers what if you’re brand new to investing you simply do not want to decide what you really want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can happen the first off you can work with a financial investment portfolio supervisor they’ll usually 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 obviously you can buy 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 also now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are methods 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 don’t just presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get used to the structure of the site and after that when you’re ready to utilize 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 buying genuine companies 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 threat and we have to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row invest in these options because you think 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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famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies 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 charge websites 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 fees on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to understand prior to you really start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs really important to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission fees are totally free however there are a number of other fees the first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
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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 sell your products 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state all right 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 costs are simply one of those alternatives that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a charge to remember the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really offering you in terms of 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 state provide me us dollars instead you need to pay their costs now the great feature of though when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good using that part of their website will not certainly restrict you in any way nevertheless we need to know 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is generally the difference that belongs to the investment platform in between the buy price and the sale price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that really suggests that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the current price of tesla is the value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a percentage of profit from you every time you do a buyer’s share so keep that in mind obviously 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 alright 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 wish to offer it which is how they make a bit of money on those spread out charges it’s usually extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a bit cash now the last task is called an
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overnight fee now this is truly crucial if you’re actually utilizing cfds yourself too an overnight fee is when you’re not doing that buy sell transaction in the very same day all right there’s then an over night cost charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which means you’re in fact buying the specific possession instead of using utilize anyway you will not get hit with these charges but these costs are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the aid area 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 charges 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 obviously depending on what you are purchasing too this is on your own so keep that in mind however full costs are completely within their assistance details fine and we spoke about in addition to free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of in fact using these copy operates they do not have any extra costs on top of the regular costs that
are there now what you need to remember though is these possibly managed by other individuals totally or in some cases have actually produced portfolios you have actually got a genuine individual doing the management you have to make sure you select the person that’s right for you similar to any line of work this is your monetary properties so we definitely need to make sure it’s the right individual for us prior to 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 different choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods 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 require to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are using your own money however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real money perhaps this is an excellent choice for you once again to test the theories okay you may wish to purchase tesla or apple or this etf why not use the virtual choice as a method to kind of safe have fun with it obviously you may have missed out on gains and losses throughout that time naturally if you had actually invested your real cash it enables you to develop self-confidence understand 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 remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i imply by that obviously 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 okay with potentially losing a good quantity of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will make money you’ll lose cash that’s why they make the fact 75 people will lose money however that equally suggests they’ll lose eventually in their journey certainly people do generate income too and i have actually got videos everything about how you can make sure you are among individuals to in fact make money however in this circumstance make sure you research your threat level would you be all right giving your cash to another person which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t select someone who’s totally into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can in fact utilize this too actually easily over here you can copy individuals now it will provide you a great deal of options and you can utilize the system to really search for someone that you fancy really following so let’s see perhaps we desire somebody from joined kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds a great amount and i can find everyone who has fulfilled that requirements and it does give you a threat factor too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have quite high returns
bear in mind it’s like anything to do with the news or forecasts 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 way 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 really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact buying 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 definitely like sort of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so really for me understanding what i like to buy 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 kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Find A Free Cryptocurrency Trading Mentor.
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