We get htis a lot on our site the answer to Robinhood App We Could Not Approve Your Application….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you actually wish to invest and you want somebody to do it for you there’s only a couple of ways that that can take place the firstly you can work with a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that maybe one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are produced once 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 as well now if you’re brand new to a total please bear in mind this platform is rather innovative you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they have actually made earnings 14 months in a row invest in these choices because 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’s part of social trading which is one element that is most likely.
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famous for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial 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 involved really critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost sites then might not charge you for really buying and selling funds or etfs specific commodities private stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 know before you actually start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs actually essential to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission fees are totally free however there are a couple of other fees the very first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk money.
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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 offer 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say all right that’s quite pricey and i get that however 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 undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase 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 or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two free trade anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 offer me us dollars instead you have to pay their fees now the great thing about though when you’ve converted your money you do not have to invest it right now that dollar worth can sit 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good utilizing that part of their site won’t definitely limit you in any way nevertheless we need to understand two other fees the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is generally the difference that is part of the financial investment platform in between the buy cost and the sale price fine 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 in fact suggests that when you want to sell or purchase as you can see it’s not the cost you’re seeing up here let me show you that again so the current price of tesla is the worth of a share what’s called spread costs is the distinction then in fact to buy 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 whenever 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 provide you less back with your sale and you state all right 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 sell it which is how they make a bit of cash on those spread out costs it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit cash now the last feat is called an
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over night cost now this is really essential if you’re actually utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy sell transaction in the very same day all right there’s then an over night cost charged or 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 in fact buying out the etf the stock the commodity and using time one leverage which indicates you’re actually buying the exact property rather than utilizing take advantage of anyhow you won’t get hit with these costs however these fees are if you’re using leverage and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s say if you go into the assistance area this isn’t the over night fees details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that just applies as i said to cfds there are some surcharges naturally depending upon what you are purchasing also this is on your own so keep that in mind but full costs are completely within their aid info fine and we talked about in addition to 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 whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really using these copy functions they don’t have any extra costs on top of the typical charges that
are there now what you need to remember though is these potentially managed by other individuals completely or in some cases have actually produced portfolios you’ve got a genuine person doing the management you need to make sure you select the person that’s right for you much like any line of work this is your financial properties so we absolutely need to make sure it’s the best person for us before we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various alternatives for us to start with 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 means i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio simulate as if you are using your own money however in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money possibly this is a great choice for you again to check the theories all right you might wish to buy tesla or apple or this etf why not utilize the virtual option as a way to kind of safe have fun with it obviously you might have missed out on gains and losses during that time obviously if you had actually invested your genuine cash it permits you to develop confidence comprehend the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i indicate 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 indicates am i all right with potentially losing an excellent amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash however that equally suggests they’ll lose at some time in their journey undoubtedly people do make money too and i’ve got videos everything about how you can ensure you’re one of individuals to really generate income but in this scenario make sure you research study your danger level would you be alright providing your cash to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in completely if you’re someone who isn’t wishing to be that dangerous do not select someone who’s totally into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more standard 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 really use this too really easily over here you can copy people now it will give you a lot of choices and you can use the system to actually look for somebody that you elegant really following so let’s see perhaps we desire somebody from unified kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a good amount and i can find everybody who has actually satisfied that criteria and it does provide you a danger element too 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 people that have rather high returns
remember it’s like anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they could make four 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 example ruby mza as an example you can in fact deep dive into what is she actually purchasing so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is great so actually for me understanding what i like to invest in my specific stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production companies as that. Robinhood App We Could Not Approve Your Application.
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