We get htis a lot on our site the answer to Jim Cramer Best Stock Trading Platform….Questions that i hear from new investors what if you’re brand new to investing you simply don’t wish to decide what you really want to invest and you desire somebody to do it for you there’s just a couple of ways that that can happen the first of all you can employ an investment portfolio supervisor they’ll generally charge a rather a high premium to do that maybe a couple of percent of your revenues will go to them the other thing is naturally you can buy 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 also now if you’re brand new to an overall please bear in mind this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform do not just assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you really get used to the structure of the website and then when you’re ready to use 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 buying real business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk 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 invest in these options because you believe is the best ones for you which being said let’s dive directly 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 element that is most likely.
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well-known for it’s the option to see what other traders are doing extraordinary we don’t typically 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 in fact say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means 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 likewise cover is the costs involved truly crucial you comprehend what are the expenses 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 zero fee websites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
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there’ll be fees on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to know prior to you really begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission fees are free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put money 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 cash so you offer 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say fine that’s rather 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 costs are just one of those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a cost to bear in mind the second charge that i have actually discussed is that conversion fee 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 lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually offering 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 state provide me us dollars instead you have to pay their costs now the terrific thing about however when you’ve converted your money 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 means the initial 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 extra costs so that’s actually great utilizing that part of their website will not certainly limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you
on is basically the distinction that is part of the financial investment platform between the buy rate 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 today tesla’s dollar worth 599 per share in tesla that really indicates that when you want to sell or purchase as you can see it’s not the rate 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 charges is the difference then actually to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind obviously 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 alright well why does that happen it just 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 wish to offer it and that is how they make a little bit of cash on those spread fees it’s generally extremely 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 task is called an
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overnight fee now this is truly crucial if you’re in fact utilizing cfds yourself too an overnight cost is when you’re refraining from doing that buy sell deal in the exact same day alright there’s then an over night fee charged and even 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 really buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re really buying the precise asset rather than using take advantage of anyway you will not get hit with these fees however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s say if you go into the aid area this isn’t the over night charges details you can see exactly 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 and that only applies as i said to cfds there are some service charges obviously depending on what you are investing in too this is on your own so keep that in mind but complete fees are entirely within their assistance information all right and we spoke about along with complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are 2 various ways of in fact using these copy operates they don’t have any extra costs on top of the typical charges that
are there now what you need to keep in mind though is these potentially handled by other people totally or in some cases have actually developed portfolios you’ve got a real individual doing the management you have to make sure you select the person that’s right for you much like any kind of work this is your financial properties so we definitely require to make sure it’s the ideal individual for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of various 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 methods i think 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 utilizing your own money however really purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real cash perhaps this is a fantastic choice for you again to evaluate the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe play with it obviously you might have lost out on gains and losses throughout that time of course 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 genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you choose 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 mean by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just means am i okay 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 money that’s why they make the fact 75 people will lose cash however that similarly suggests they’ll lose at some time in their journey obviously individuals do make money also and i have actually got videos all about how you can make sure you are among individuals to in fact generate income however in this scenario make sure you research study your danger level would you be okay giving your cash to another person which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous do not select someone who’s entirely into crypto or currency conversion think of it you ‘d probably desire a foundation of strong commodities
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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 very same with who you’re following now as i say you can really utilize this too really easily over here you can copy individuals now it will offer you a great deal of options and you can utilize the system to in fact search for someone that you elegant really following so let’s see possibly we desire someone from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has satisfied that requirements and it does give you a risk element also so it tends to be the higher 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 mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you alright 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 actually deep dive into what is she really purchasing 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 definitely like type of into those blue box and the tech market she’s got some of mine actually that i invest in too which is good so in fact for me knowing what i like to purchase my individual 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 bit more um of the sort of main food companies and you’ve got you know pharmaceutical and production business as that. Jim Cramer Best Stock Trading Platform.
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