So to start the answer to Add Group Greyed Out Thinkorswim….Concerns that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to decide what you actually want to invest and you desire someone to do it for you there’s just a couple of manner ins which that can happen the first off you can employ a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your earnings will go to them the other thing is obviously you can purchase mutual funds specific funds are created 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 also now if you’re brand new to a total please remember this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not actually having the total of capital so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row invest in these choices since you think is the ideal ones for you and that being stated let’s dive directly in [Music] 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 aspect that is most likely.
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popular for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies if for example 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 also cover is the fees included truly vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost websites then might not charge you for actually buying and selling etfs or funds private commodities specific stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling okay so commission charges are free however there are a couple of other costs the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those choices that they have a lot of platforms obviously are 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 when every six months you understand depends completely how you’re investing but that is a cost to remember the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they really providing 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 provide me us dollars rather you have to pay their costs now the terrific aspect of however when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good using that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you
on is essentially the difference that becomes part of the financial investment platform in between the buy rate and the list price fine 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 value 599 per share in tesla that actually means that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current price of tesla is the value of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll discover this all over this is another manner in which they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to buy than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it and that is how they make a bit of money on those spread out charges it’s typically exceptionally 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 little bit money now the last feat is called an
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overnight charge now this is really essential if you’re really using cfds yourself too an overnight fee is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re really purchasing the specific property instead of using take advantage of anyway you will not get hit with these fees but these charges are if you’re utilizing take advantage of and cfds and then you’re going to have these costs 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 costs info 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 uses as i stated to cfds there are some additional charges obviously depending on what you are buying also this is on your own so keep that in mind but complete fees are totally within their aid details fine and we talked about in addition to free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of in fact using these copy operates they don’t have any extra charges on top of the typical charges that
are there now what you require to bear in mind though is these potentially handled by other individuals entirely or often have produced portfolios you have actually got a genuine person doing the management you need to make sure you select the person that’s right for you much like any profession this is your monetary possessions so we absolutely 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 want to utilize this function we have actually got a couple of various alternatives for us first off 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 means i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card details or anything you can essentially have this virtual portfolio mimic as if you are using your own cash but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash possibly this is a terrific alternative for you again to test the theories alright you might wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine cash it permits you to develop confidence comprehend the platform so that’s one option 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 people and copy portfolios now here’s something to bear in mind prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure 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 investments the riskier you can be risk simply implies am i alright with potentially losing a good amount of this investment or gaining as
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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly means they’ll lose at some time in their journey certainly people do generate income also and i have actually got videos all about how you can make certain you are among the people to actually make money but in this circumstance ensure you research your threat level would you be alright giving your money to somebody else which is efficiently what you’re doing and trusting them ensure you understand what they’re investing in totally if you’re someone who isn’t wishing to be that dangerous do not choose somebody who’s completely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can in fact utilize this too actually quickly over here you can copy individuals now it will offer you a great deal of choices and you can use the system to really look for someone that you elegant in fact following so let’s see maybe we desire somebody from joined kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has actually satisfied that criteria and it does provide you a threat aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now obviously 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 imply somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to verify are you okay with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she actually buying 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 good to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine really that i buy too which is good so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she chooses she’s likewise got a little bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production companies as that. Add Group Greyed Out Thinkorswim.
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