We get htis a lot on our site the answer to Can You Day Trade Cryptocurrency On Robinhood….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just do not wish to choose what you really want to invest and you want someone to do it for you there’s only a couple of manner ins which that can take place the first off you can work with an investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds specific funds are produced 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 a total please bear in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not actually having the total of capital so with anything that you’re discovering 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 cash they give that option as well so you actually 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 threat this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row purchase these options due to the fact that you believe is the best ones for you which 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 most likely.
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popular for it’s the alternative to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included actually vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no fee sites then may not charge you for really buying and selling funds or etfs individual products private stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges 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 finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with charges actually essential to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a couple of other costs the very first one is withdrawal charges so you can clearly put cash in now if you’re 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 but when you wish to withdraw your cash 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 definitely require to now you might say alright that’s quite pricey 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 just one of those alternatives that they have a lot of platforms certainly are complimentary 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 when every 6 months you understand depends completely how you’re investing however that is a charge to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy 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 buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use 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 bargain with them you can’t go to the bank and say offer me us dollars rather you have to pay their costs now the excellent feature of though when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their website will not definitely restrict you in any way however we have to know 2 other charges the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is basically the difference that belongs to the financial investment platform in between the buy price and the price okay 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 value 599 per share in tesla that in fact indicates that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me show you that once again so the current cost of tesla is the worth of a share what’s called spread costs is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more expensive 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 occur it simply 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 bit of money on those spread fees it’s generally extremely little 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 little bit money now the last feat is called an
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over night fee now this is really crucial if you’re actually using cfds yourself as well an over night charge is when you’re refraining from doing that buy offer transaction in the same day all right there’s then an overnight fee charged or even if you go from the friday to the monday before 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 utilizing time one take advantage of which implies you’re in fact buying the exact asset instead of using utilize anyway you will not get hit with these charges but these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you enter into the assistance section this isn’t the over night costs info 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 just uses as i said to cfds there are some added fees obviously depending on what you are buying too this is on your own so keep that in mind but complete charges are entirely within their help details all right and we spoke about along with complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of actually using these copy operates they don’t have any additional costs on top of the normal costs that
exist now what you need to remember though is these potentially handled by other individuals entirely or often have actually created portfolios you’ve got a real person doing the management you need to make sure you pick the individual that’s right for you just like any line of work this is your monetary assets so we absolutely require to make certain it’s the ideal person 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 couple of different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money maybe this is a fantastic alternative for you once again to check the theories fine you might want to purchase tesla or apple or this etf why not use the virtual option as a method to type of safe play with it undoubtedly you might have lost out on gains and losses during that time obviously if you had invested your genuine cash it enables you to construct confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return 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 remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i imply by that obviously 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 simply suggests am i alright with possibly losing a good quantity of this financial investment or getting as
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well now remember whatever is downs and ups you will make money you’ll lose money that’s why they make the figure 75 individuals will lose cash but that similarly suggests they’ll lose at some time in their journey clearly people do earn money as well and i’ve got videos everything about how you can make certain you’re one of the people to actually make money but in this scenario make certain you research study your risk level would you be alright giving your money to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re buying completely if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more traditional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually use this too actually easily over here you can copy individuals now it will provide you a lot of options and you can utilize the system to in fact search for somebody that you fancy really following so let’s see perhaps we desire someone from joined kingdom um who purchases let’s see who does etfs they have actually acquired at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everyone who has satisfied that requirements and it does offer you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns
remember it resembles anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to guarantee so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to verify are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s absolutely like type of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is good so actually for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production companies as that. Can You Day Trade Cryptocurrency On Robinhood.
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