We get htis a lot on our site the answer to Forex Trading Adam Khoo….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely don’t want to decide what you really wish to invest and you want somebody to do it for you there’s only a couple of ways that that can occur the firstly you can employ a financial investment portfolio manager 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 naturally you can buy mutual funds specific funds are created 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 an overall please bear in mind this platform is rather sophisticated you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform do not simply assume because 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 give that choice too so you really get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has stated they’ve made earnings 14 months in a row purchase these options since you believe is the right ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges truly important to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary however there are a couple of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
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and it’s automatically 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 commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely 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 fees are simply among those options that they have a lot of platforms obviously 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 6 months you understand depends entirely how you’re investing but that is a charge to remember the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists 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 offer me us dollars instead you need to pay their costs now the excellent thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good using that part of their website will not definitely restrict you in any way however we need to know 2 other charges the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is basically the difference that is part of the financial investment platform between the buy price and the list price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually indicates that when you want to purchase or sell as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present cost of tesla is the value of a share what’s called spread fees is the distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you whenever you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state all right well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread charges it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will again make a little bit money now the last feat is called an
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over night charge now this is really crucial if you’re really using cfds yourself too an overnight cost is when you’re refraining from doing that buy offer transaction in the same day okay there’s then an overnight cost charged or even if you go from the friday to the monday before cruising a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re in fact buying the specific asset rather than utilizing take advantage of anyway you will not get hit with these costs but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the same day so let’s state if you go into the help area this isn’t the over night fees details you can see precisely the breakdown and it’ll inform 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 applies as i said to cfds there are some additional charges obviously depending on what you are buying as well this is on your own so keep that in mind but full costs are entirely within their assistance details alright and we talked about as well as complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of actually utilizing these copy works they don’t have any extra charges on top of the typical charges that
exist now what you require to bear in mind though is these potentially managed by other people totally or in some cases have created portfolios you’ve got a real individual doing the management you need to make certain you choose the person that’s right for you much like any line of work this is your monetary properties so we absolutely require to make sure 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 alternatives 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 real cash or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun 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 essentially have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is an excellent alternative for you once again to test the theories okay you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe play with it certainly you may have missed out on gains and losses throughout that time obviously if you had actually invested your real money it permits you to build confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember before you select someone that you’re going to copy or a portfolio you’re going to copy make certain 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 investments the riskier you can be risk just suggests am i all right with potentially losing an excellent 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 figure 75 people will lose cash but that equally means they’ll lose at some point in their journey certainly individuals do generate income too and i’ve got videos all about how you can make sure you are among individuals to in fact generate income but in this situation ensure you research study your threat level would you be fine offering your cash to another person which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wanting to be that dangerous don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong products
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like gold or even oil plus more standard etfs and index funds you might not desire 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 use this too truly quickly over here you can copy individuals now it will provide you a great deal of options and you can use the system to in fact look for someone 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’ve acquired at least 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has satisfied that requirements and it does give you a danger factor too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not indicate 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 easy as clicking the copy button and off you go and then you understand ask you to verify are you alright 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 actually 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 excellent to understand 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 in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s also got a bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production companies as that. Forex Trading Adam Khoo.
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