We get htis a lot on our site the answer to Tradingview Vs Multicharts….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t want to choose what you really wish to invest and you want somebody to do it for you there’s only a couple of manner ins which that can occur the to start with you can work with a financial investment portfolio supervisor they’ll normally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can purchase mutual funds particular funds are produced 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 also now if you’re brand new to an overall please keep in mind this platform is rather advanced 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 more about please do study the platform don’t just assume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that person has said they have actually made profit 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being stated let’s dive directly 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 most likely.
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popular for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really say i want to do precisely what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved actually important you understand what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge websites then might not charge you for actually buying and selling funds or etfs specific products specific stocks.
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there’ll be costs on other parts maybe 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 costs with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with costs truly important to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal fees so you can obviously 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 later on however when you wish to withdraw your cash so you offer your shares you offer your commodities whatever you’re offering the minimum quantity 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 sure that i’m only withdrawing when i definitely need to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those alternatives 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 mainly it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a cost to remember the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great 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 perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually giving 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 state give me us dollars instead you have to pay their costs now the great aspect of though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their website won’t certainly limit you in any way nevertheless we need to know two other charges the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread fee as i’m going to reveal you
on is generally the distinction that becomes part of the financial investment platform in between the buy cost 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 site right now tesla’s dollar worth 599 per share in tesla that in fact means that when you wish to offer or buy as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the present cost of tesla is the worth of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to offer so they’re going to provide 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 in between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread fees it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit money now the last task is called an
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over night cost now this is actually crucial if you’re really utilizing cfds yourself also an overnight charge is when you’re refraining from doing that buy sell transaction in the exact same day fine there’s then an over night cost charged or perhaps if you go from the friday to the monday before 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 implies you’re in fact buying the precise possession instead of utilizing utilize anyway you won’t get hit with these charges but these fees are if you’re utilizing utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the exact same day so let’s state if you go into the aid area this isn’t the over night fees details you can see exactly 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 which only applies as i said to cfds there are some service charges naturally depending on what you are buying as well this is on your own so keep that in mind but full fees are totally within their aid info all right and we talked about along with totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of really utilizing these copy works they do not have any additional charges on top of the regular charges that
exist now what you need to bear in mind though is these potentially managed by other people completely or in some cases have developed portfolios you have actually got a real individual doing the management you need to ensure you select the individual that’s right for you just like any type of work this is your financial possessions so we absolutely need to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different 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 alternative 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 cash that you’re investing you won’t need to put in your credit card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money but actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money maybe this is an excellent option for you once again to evaluate the theories all right you might want to buy tesla or apple or this etf why not use the virtual alternative as a method to type of safe play with it undoubtedly you may have missed out on gains and losses throughout that time naturally if you had invested your real money it permits you to build confidence understand 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 in fact how to copy individuals and copy portfolios now here’s something to bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your threat profile is now what do i suggest by that certainly 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 run the risk of simply means am i fine with potentially losing a good amount of this investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 people will lose cash but that equally suggests they’ll lose at some point in their journey obviously people do make money also and i have actually got videos everything about how you can make sure you are among individuals to really make money but in this circumstance make sure you research your danger level would you be fine offering your money to another person which is effectively what you’re doing and trusting them ensure you comprehend what they’re purchasing fully if you’re someone who isn’t wishing to be that dangerous don’t pick someone who’s completely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong commodities
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like gold and even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too really quickly over here you can copy individuals now it will provide you a great deal of options and you can utilize the system to in fact search for somebody that you elegant really following so let’s see perhaps we want somebody from united kingdom um who invests in let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has fulfilled that requirements and it does offer you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
remember it resembles anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no 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 alright with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she actually investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is excellent so in fact for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production business as that. Tradingview Vs Multicharts.
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