We get htis a lot on our site the answer to Is Bitcoin Trading Haram….Questions that i speak with new investors what if you’re brand new to investing you just do not want to choose what you actually want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can occur the first off you can hire an investment portfolio manager they’ll typically 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 of course you can buy mutual funds specific funds are produced once 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 too now if you’re brand new to a total please bear in mind this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply assume because 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 money they give that option also so you really 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 naturally your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row buy these options because 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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famous for it’s the choice to see what other traders are doing extraordinary we do not normally 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 money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and essentially 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 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 also cover is the fees included really critical you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business 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 etfs or funds specific commodities specific stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you really begin buying 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 advanced financier so let’s start with costs actually important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling all right so commission fees are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can clearly put money 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 later on however when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a fee to remember the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that fits 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 excellent 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 basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there 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 say offer me us dollars rather you have to pay their costs now the fantastic thing about though when you’ve transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their website will not definitely restrict you in any way however we need to know 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you
on is basically the difference that belongs to the 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 website right now tesla’s dollar worth 599 per share in tesla that actually indicates that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that once again so the present price of tesla is the worth of a share what’s called spread costs is the difference then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you state okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it and that is how they make a little bit of money on those spread out charges it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a little bit cash now the last feat is called an
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overnight fee now this is really important if you’re really utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an over night charge charged and even if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one leverage which means you’re actually purchasing the precise property rather than using utilize anyhow you won’t get hit with these costs but these costs are if you’re utilizing leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the help section this isn’t the over night charges info you can see precisely the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some service charges of course depending upon what you are investing in as well this is on your own so keep that in mind however complete charges are entirely within their assistance info fine and we discussed 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 regular product 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 methods of in fact using these copy works they do not have any additional charges on top of the normal fees that
exist now what you need to bear in mind though is these possibly handled by other individuals totally or often have created portfolios you’ve got a real individual doing the management you need to make sure you select the individual that’s right for you similar to any type of work this is your monetary assets so we definitely require to ensure it’s the best individual for us prior to 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 various alternatives for us to start with if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual methods i think 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 credit card details or anything you can basically have this virtual portfolio simulate as if you are using your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money perhaps this is a terrific alternative for you again to test the theories fine you might want to purchase tesla or apple or this etf why not use the virtual choice as a way to sort of safe have fun with it undoubtedly you may have missed out on gains and losses during that time naturally if you had invested your real cash it allows you to develop confidence comprehend 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 people and copy portfolios now here’s something to remember before you pick someone 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 mean by that clearly 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 indicates am i all right with potentially losing an excellent amount of this investment or acquiring as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly implies they’ll lose eventually in their journey clearly people do make money as well and i have actually got videos everything about how you can ensure you’re one of individuals to in fact earn money but in this situation make certain you research your risk level would you be okay providing your cash to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous don’t choose someone 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 conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually use this too really quickly over here you can copy individuals now it will give you a lot of options and you can utilize the system to actually look for someone that you elegant really following so let’s see possibly we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually fulfilled that criteria and it does offer you a danger aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to validate are you fine with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she in fact investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s great to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is great so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the type of primary food business and you have actually got you know pharmaceutical and production business as that. Is Bitcoin Trading Haram.
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