We get htis a lot on our site the answer to Gregory Starkey Td Ameritrade….Concerns that i speak with brand-new financiers what if you’re brand new to investing you just do not want to decide what you really wish to invest and you want somebody to do it for you there’s only a number of ways that that can happen the first of all you can hire an investment portfolio supervisor they’ll generally charge a quite 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 particular funds are created 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 too now if you’re brand new to an overall please bear in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they’ve made revenue 14 months in a row buy these options since you believe is the best ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates 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 really important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies 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 no fee websites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact start investing in copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling okay so commission fees are totally free however there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk money.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing however that is a charge to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually 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 provide me us dollars rather you need to pay their costs now the fantastic aspect of however when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies 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 fees so that’s actually excellent using that part of their website won’t certainly limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you
on is essentially the distinction that is part of the financial investment platform in between the buy rate and the sale price all right it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that actually suggests that when you want to sell or purchase as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present cost of tesla is the value of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind certainly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you say alright well why does that occur it just 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 sell it and that is how they make a little bit of cash on those spread out costs it’s generally exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last feat is called an
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overnight cost now this is really crucial if you’re really utilizing cfds yourself too an overnight cost is when you’re refraining from doing that buy sell transaction in the exact same day all right there’s then an over night fee charged and even if you go from the friday to the monday prior to sailing a weekend cost now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which indicates you’re actually buying the precise property instead of utilizing take advantage of anyhow you will not get hit with these fees however these costs are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the exact same day so let’s say if you go into the help section this isn’t the over night costs info 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 over night or you’re doing over weekends and that only uses as i said to cfds there are some surcharges obviously depending on what you are buying too this is on your own so keep that in mind however full fees are completely within their help info all right and we spoke about in addition to free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of actually using these copy operates they do not have any extra costs on top of the regular costs that
exist now what you require to bear in mind though is these potentially handled by other people entirely or in some cases have developed portfolios you have actually got a real person doing the management you have to make sure you select the person that’s right for you much like any line of work this is your monetary assets so we definitely need to make sure it’s the best individual for us before 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 different options for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your charge card details or anything you can basically have this virtual portfolio imitate as if you are using your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash perhaps this is a fantastic choice for you again to evaluate the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe play with it clearly you may have lost out on gains and losses during that time naturally if you had invested your genuine cash it allows you to construct self-confidence understand the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i suggest by that certainly 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 just suggests am i fine with potentially losing a great quantity of this investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that equally suggests they’ll lose eventually in their journey obviously individuals do earn money too and i’ve got videos all about how you can make certain you’re one of individuals to actually generate income however in this scenario make certain you research your threat level would you be fine giving your cash to somebody else which is efficiently what you’re doing and trusting them ensure you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too truly quickly over here you can copy individuals now it will offer you a great deal of choices and you can utilize the system to really search for someone that you expensive in fact following so let’s see maybe we want somebody from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent amount and i can find everyone who has actually satisfied that criteria and it does provide you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns
remember it’s like 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 could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to verify are you fine 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 actually 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 excellent to understand ibm paypal yep she’s certainly 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 excellent so actually for me knowing 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 little bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production companies as that. Gregory Starkey Td Ameritrade.
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