We get htis a lot on our site the answer to Cryptocurrency Trading Association….Questions that i speak with new investors what if you’re brand new to investing you simply don’t want to decide what you actually wish to invest and you want somebody to do it for you there’s only a number of ways that that can occur the firstly you can employ an investment portfolio manager they’ll usually charge a rather a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is naturally you can purchase 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 keep 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 in fact having the full amount of capital so with anything that you’re learning about please do study the platform don’t 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 alternative as well so you really get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row buy these options since you think is the best ones for you and that being said let’s dive straight 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 element that is most likely.
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popular for it’s the option to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want 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 sell whatever they do your money will be mimicked with it so that means if for example 10 of their investment portfolio remains 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 really important you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 sites then might not charge you for actually buying and selling funds or etfs individual products specific stocks.
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there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually essential to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal costs 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 instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re selling 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 certain that i’m just withdrawing when i absolutely require to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a fee to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that suits me.
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a great deal of my stocks are us dollar stocks anyway 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 fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually giving you in regards to 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 instead you have to pay their costs now the excellent thing about however when you have actually converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform 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 site won’t definitely limit you in any way however we need to know 2 other fees the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you
on is essentially the distinction that belongs to the investment platform between the buy price and the price okay 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 worth 599 per share in tesla that really suggests that when you want to purchase or sell as you can see it’s not the price you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this all over this is another manner in which they make a percentage of make money from you each time you do a buyer’s share so keep that in mind undoubtedly 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 say okay well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread fees it’s normally incredibly small it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a bit money now the last accomplishment is called an
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overnight fee now this is truly essential if you’re actually utilizing cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the exact same day okay there’s then an overnight charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one utilize which implies you’re really buying the precise property rather than utilizing take advantage of anyway you will not get hit with these costs however these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s say if you enter into the assistance area this isn’t the over night costs information you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some additional charges naturally depending upon what you are investing in too this is on your own so keep that in mind but complete charges are completely within their help details fine and we talked about in addition to free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of actually utilizing these copy operates they do not have any extra fees on top of the normal costs that
are there now what you require to bear in mind though is these potentially managed by other individuals completely or often have developed portfolios you have actually got a real individual doing the management you have to ensure you select the person that’s right for you much like any profession this is your financial possessions so we absolutely need to ensure it’s the right 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 various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual ways 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 credit card information or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a fantastic option for you again to check the theories alright you may wish to buy tesla or apple or this etf why not utilize the virtual option as a way to type of safe play with it clearly you may have missed out on gains and losses throughout that time of course if you had invested your genuine money it enables you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep 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 suggest 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 risk just suggests am i fine with potentially losing a great quantity of this financial investment or acquiring as
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well now remember whatever is ups and downs you will make money you’ll lose money that’s why they make the statistic 75 individuals will lose cash however that equally means they’ll lose at some time in their journey clearly individuals do make money too and i have actually got videos everything about how you can ensure you’re one of the people to really generate income however in this situation make sure you research your risk level would you be okay offering your cash to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wanting to be that dangerous don’t pick somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold or perhaps oil plus more standard 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 truly quickly over here you can copy people now it will offer you a lot of choices and you can use the system to actually look for somebody that you expensive actually following so let’s see maybe we desire someone from united kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a good quantity and i can find everyone who has fulfilled that criteria and it does provide you a danger factor also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
remember it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way 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 fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she really buying so let’s enter 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 definitely like sort of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is great so in fact 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 companies that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production companies as that. Cryptocurrency Trading Association.
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