We get htis a lot on our site the answer to Robinhood Securities Llc Provide Their Federal Id Number Or Fein….Questions that i hear from 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 want someone to do it for you there’s only a number of ways that that can take place the firstly you can employ a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds particular funds are developed 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 innovative you can do cfds which of course cfds are ways of investing
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with not in fact 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 utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you actually 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 obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they have actually made earnings 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 aspect that is probably.
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popular for it’s the choice to see what other traders are doing amazing we don’t typically 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 cash we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates 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 charges involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost websites then might not charge you for really buying and selling etfs or funds specific products 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 sort 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 know prior to you really start purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with fees truly important to understand these now on there’s a couple of costs there isn’t fees 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 charges so you can obviously put money in now if you remain 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 however when you wish to withdraw your money so you offer your shares you offer your commodities 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 knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those options that they have a great deal of platforms obviously 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 as soon as every six months you know depends completely how you’re investing however that is a fee to keep in mind the second charge that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase 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 purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost 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 state offer me us dollars rather you have to pay their charges now the terrific thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website will not certainly limit you in any way however we need to know 2 other charges the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread fee as i’m going to show you
on is basically the difference that belongs to the financial investment platform between the buy cost and the price all right 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 worth 599 per share in tesla that really means that when you want to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the present rate of tesla is the value of a share what’s called spread charges is the difference then in fact to buy that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you wish to sell it and that is how they make a little bit of money on those spread costs 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 bit cash now the last accomplishment is called an
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over night fee now this is truly important if you’re really utilizing cfds yourself too an overnight cost is when you’re refraining from doing that buy offer transaction in the very same day alright there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re actually purchasing the precise property instead of using leverage anyhow you won’t get hit with these costs but these fees 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 state if you go into the assistance area this isn’t the over night costs information 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 which just applies as i said to cfds there are some added fees obviously depending upon what you are buying too this is on your own so keep that in mind however full costs are entirely within their assistance info fine and we talked about in addition to totally free 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 everything there’s that five dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really using these copy operates they don’t have any additional costs on top of the normal fees that
are there now what you need to remember though is these possibly managed by other individuals completely or in some cases have actually created portfolios you’ve got a genuine person doing the management you need to make sure you choose the person that’s right for you similar to any profession this is your financial assets 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’ve got a couple of various choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means 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 require to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is a fantastic choice for you once again to evaluate the theories fine you might want to purchase tesla or apple or this etf why not use the virtual option as a way to type of safe have fun with it clearly you might have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to build confidence understand 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 really how to copy individuals and copy portfolios now here’s something to keep in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i suggest by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply indicates am i okay with possibly losing a great quantity of this financial investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose money but that similarly implies they’ll lose at some point in their journey certainly individuals do earn money as well and i have actually got videos everything about how you can ensure you’re one of individuals to really generate income but in this scenario make certain you research study your threat level would you be alright giving your money to someone else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that risky do not select somebody who’s totally into crypto or currency conversion think about it you ‘d probably desire a foundation of strong products
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like gold and even oil plus more conventional 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 in fact utilize this too actually easily over here you can copy individuals now it will offer you a lot of options and you can use the system to in fact search for somebody that you elegant really following so let’s see possibly we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a good amount and i can discover everyone who has actually satisfied that requirements and it does give you a risk 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 rather high returns
keep in mind it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you all right 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 actually deep dive into what is she really 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 great to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine actually that i purchase too which is excellent so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the type of main food business and you’ve got you understand pharmaceutical and production companies as that. Robinhood Securities Llc Provide Their Federal Id Number Or Fein.
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