So to start the answer to Binance Feese….Concerns that i hear from new financiers what if you’re brand new to investing you merely don’t want to choose what you actually want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can occur the firstly you can work with a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are developed 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 remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not actually having the full amount of capital so with anything that you’re learning about please do study the platform do not simply presume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you which 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 aspect that is probably.
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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates 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 included actually critical you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing 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 really buying and selling etfs or funds individual products individual 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 reveal you the fees 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 suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with fees actually essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission charges are complimentary however there are a couple of other charges the first one is withdrawal fees so you can certainly put cash 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 want to withdraw your cash 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those choices 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 understand depends entirely how you’re investing however that is a cost to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice 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 anyhow or the etfs that i’m buying or even some crypto so i’m excellent 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 two open market anybody this is basic they have i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact giving 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 provide me us dollars instead you need to pay their charges now the great aspect of though when you have actually converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash 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 additional costs so that’s actually excellent using that part of their website won’t definitely restrict you in any way however we have to understand two other charges the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you
on is essentially the distinction that is part of the investment platform between the buy price and the list price okay 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 suggests that when you wish to sell 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 existing price 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 find this all over this is another way that 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 purchase than it is to offer so they’re going to give you less back with your sale and you state alright well why does that happen 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 offer it and that is how they make a little bit of cash on those spread costs it’s generally exceptionally little it could be a matter of pens matter of cents in there but that’s one location every investment company will again make a bit cash now the last feat is called an
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over night charge now this is actually important if you’re really utilizing cfds yourself also an over night fee is when you’re refraining from doing that buy sell deal in the same day all right there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to sailing a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which indicates you’re actually buying the specific asset rather than using leverage anyhow you won’t get hit with these costs but these fees are if you’re utilizing leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you go into the help area this isn’t the over night charges details you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some additional charges of course depending upon what you are buying also this is on your own so keep that in mind but complete charges are entirely within their aid details all right and we discussed in addition to free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of actually utilizing these copy operates they don’t have any additional costs on top of the normal fees that
exist now what you need to remember though is these potentially handled by other individuals totally or sometimes have actually created portfolios you’ve got a real person doing the management you have to make certain you choose the individual that’s right for you similar to any kind of work this is your monetary possessions so we definitely need to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a number of different alternatives for us first off 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 ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t require to put in your charge card information or anything you can basically have this virtual portfolio imitate as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your real money perhaps this is an excellent alternative for you again to check the theories fine you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to type of safe play with it obviously you might have lost out on gains and losses during that time obviously if you had actually invested your genuine money it permits you to develop self-confidence understand 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 in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you pick 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 suggest by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be run the risk of simply indicates am i fine with potentially losing a great amount of this investment or getting as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 people will lose money however that similarly suggests they’ll lose at some point in their journey clearly people do earn money too and i’ve got videos everything about how you can ensure you’re one of the people to actually generate income but in this circumstance ensure you research your threat level would you be fine giving your money to someone else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing completely if you’re somebody who isn’t wanting to be that dangerous do not pick someone who’s entirely into crypto or currency conversion think of it you ‘d most likely desire a backbone 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 same with who you’re following now as i state you can really utilize this too truly quickly over here you can copy individuals now it will offer you a lot of options and you can use the system to actually look for somebody that you fancy really following so let’s see maybe we want somebody from united kingdom um who purchases let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a good quantity and i can discover everyone who has actually met that requirements and it does offer you a risk aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns
remember it’s like anything to do with the news or forecasts of the future this does not suggest somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to validate are you fine 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 really investing in 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 good to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is great so really for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a little bit more um of the kind of main food companies and you have actually got you know pharmaceutical and production business as that. Binance Feese.
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