So to start the answer to Cryptocurrency Trading Association….Questions that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to choose what you actually want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can happen the to start with you can hire a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds particular 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 as well now if you’re brand new to an overall please remember this platform is rather advanced you can do cfds which obviously cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform do not just assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option too so you actually 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 buying real companies if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being stated let’s dive straight 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 element that is probably.
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famous for it’s the alternative to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be simulated 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 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 buying the selling for you there’s going to be charges involved and even some of the no cost sites then may not charge you for actually buying and selling etfs or funds individual commodities specific stocks.
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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know before you really begin investing in copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly essential to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling all right so commission costs are totally free however there are a number of other fees the first one is withdrawal charges so you can certainly put money in now if you’re 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 however when you want to withdraw your cash so you sell 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 certain that i’m only withdrawing when i absolutely require to now you might state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms certainly 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 charge to keep in mind the second fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really offering 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 give me us dollars instead you need to pay their charges now the fantastic thing about however when you’ve transformed your money you do not have 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent utilizing that part of their website won’t definitely restrict you in any way nevertheless we need to know two other fees the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you
on is generally the distinction that is part of the financial investment platform between the buy rate and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that really means that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current rate of tesla is the worth of a share what’s called spread charges is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of benefit from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you say fine well why does that occur it just does that is the nature of a lot 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 costs it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit money now the last task is called an
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overnight cost now this is really crucial if you’re really using cfds yourself also an overnight charge is when you’re refraining from doing that buy sell deal in the exact same day okay there’s then an over night fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re in fact buying out the etf the stock the product and utilizing time one utilize which implies you’re actually buying the specific possession instead of using utilize anyhow you won’t get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and then 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 aid area this isn’t the overnight fees info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends and that only uses as i stated to cfds there are some additional charges obviously depending upon what you are purchasing also this is on your own so keep that in mind however full costs are entirely within their help information alright and we spoke about as well as totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various methods of in fact utilizing these copy functions they do not have any extra fees on top of the normal costs that
are there now what you require to keep in mind though is these possibly managed by other individuals entirely or sometimes have produced portfolios you have actually got a real person doing the management you have to ensure you choose the person that’s right for you much like any line of work this is your financial assets so we absolutely require to make certain 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 utilize this function we’ve got a couple of different 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 genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can generally have this virtual portfolio imitate as if you are using your own money however really 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 a fantastic alternative for you once again to check the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it clearly you may have lost out on gains and losses throughout that time obviously if you had invested your real cash 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 really how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose someone 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 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 risk just means am i fine with potentially losing an excellent amount of this financial investment or acquiring as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money but that equally indicates they’ll lose at some point in their journey obviously individuals do earn money as well and i have actually got videos all about how you can make sure you are among the people to actually generate income but in this circumstance make certain you research your threat level would you be fine offering your cash to another person which is successfully what you’re doing and trusting them ensure you comprehend what they’re investing in fully if you’re somebody who isn’t wishing to be that risky don’t pick someone who’s totally into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold or even oil plus more conventional etfs and index funds you may 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 actually utilize this too actually quickly over here you can copy individuals now it will give you a lot of choices and you can utilize the system to actually look for someone that you fancy actually following so let’s see perhaps we want somebody from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has actually met that criteria and it does offer you a risk element also so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not mean 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 verify are you all right 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 great 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 buy too which is excellent so in fact for me knowing 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 also got a little bit more um of the kind of main food business and you’ve got you understand pharmaceutical and production companies as that. Cryptocurrency Trading Association.
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