So to start the answer to Binance Apierrorcode 1013 Market Is Closed….Concerns that i speak with brand-new investors what if you’re brand new to investing you simply don’t wish to decide what you in fact want to invest and you want someone to do it for you there’s just a couple of ways that that can occur the firstly you can hire a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly one or two percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific 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 a total please bear in mind this platform is rather advanced you can do cfds which obviously cfds are methods 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 do not just presume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option 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 naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has said they have actually made earnings 14 months in a row buy these choices because you believe is the right ones for you and that being said 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 element that is probably.
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famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 10 of their 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 charges included actually crucial you understand what are the costs of this now with any platform there will be some cost to certainly 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 zero fee sites then might not charge you for actually buying and selling funds or etfs private commodities individual stocks.
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there’ll be fees on other parts possibly 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 prior to you actually start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly essential to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling fine so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal charges so you can clearly put money in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a fee to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s fine that fits me.
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a lot 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 utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 offer me us dollars rather you need to pay their costs now the great feature of however when you have actually converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 costs so that’s truly good using that part of their website will not certainly restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you
on is basically the distinction that is part of the investment platform in between the buy price 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 in fact means that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you each time you do a purchaser’s share so keep that in mind certainly it’s more pricey to purchase than it is to sell so they’re going to give you less back with your sale and you say all right well why does that occur it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you want to sell it which is how they make a bit of cash on those spread out charges it’s usually extremely little it could be a matter of pens matter of cents in there however that’s one location every investment company will again make a little bit cash now the last accomplishment is called an
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over night cost now this is really essential if you’re really utilizing cfds yourself too an overnight charge is when you’re refraining from doing that buy offer deal in the exact same day alright there’s then an over night charge charged and even if you go from the friday to the monday before 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 really purchasing the exact property rather than using leverage anyhow you will not get hit with these costs however these fees are if you’re utilizing 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 enter into the assistance area this isn’t the over night fees information you can see precisely the breakdown and it’ll inform 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 said to cfds there are some service charges of course depending upon what you are investing in also this is on your own so keep that in mind but full fees are entirely within their help details okay and we talked about in addition to totally free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of really using these copy functions they don’t have any additional costs on top of the normal charges that
exist now what you need to bear in mind though is these possibly handled by other people totally or sometimes have developed portfolios you have actually got a genuine individual doing the management you need to ensure you select the person that’s right for you similar to any profession this is your financial properties so we absolutely need to make certain it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we’ve got a number of different alternatives 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 credit card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is an excellent choice for you again to test the theories fine you might wish to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it undoubtedly you might have lost out on gains and losses during that time obviously if you had actually invested your real cash it permits you to construct 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 really how to copy individuals and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i indicate by that undoubtedly 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 just indicates am i alright with possibly losing a great amount of this financial investment or acquiring as
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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose cash however that equally indicates they’ll lose eventually in their journey undoubtedly people do make money as well and i have actually got videos everything about how you can make certain you are among individuals to in fact earn money but in this circumstance make certain you research study your risk level would you be fine offering your cash to somebody else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in completely if you’re somebody who isn’t wishing to be that risky do not choose someone who’s completely into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really use this too truly easily over here you can copy people now it will give you a lot of options and you can use the system to actually search for somebody that you expensive really following so let’s see perhaps we desire somebody from united kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has satisfied that requirements and it does give you a danger 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 number of people that have quite high returns
keep in mind it’s like anything to do with the news or predictions of the future this does not indicate someone 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 then you understand 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 example ruby mza as an example you can actually deep dive into what is she in fact purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is excellent so in fact for me understanding what i like to buy my private 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 kind of primary food companies and you’ve got you understand pharmaceutical and production business as that. Binance Apierrorcode 1013 Market Is Closed.
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