So to start the answer to Cryptocurrency Trading Chicago….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just don’t want to decide what you actually want to invest and you desire someone to do it for you there’s only a couple of ways that that can happen the first of all you can work with an 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 naturally you can purchase mutual funds specific funds are produced 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 an overall please remember this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually stated they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which being stated let’s dive straight 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 most likely.
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famous for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means 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 also cover is the charges involved truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee sites then might not charge you for in fact buying and selling etfs or funds private products 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 type of charges 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 begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with fees truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling fine so commission costs are free however there are a number of other fees the first one is withdrawal fees 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 immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you offer your shares you sell 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 just withdrawing when i definitely need to now you may state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to remember the second fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’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 purchasing and even some crypto so i’m great 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 suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually providing 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 offer me us dollars instead you have to pay their fees now the great feature of though when you have actually converted your cash you do not need to invest it immediately that dollar value can sit 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their website won’t certainly restrict you in any way however we need to understand two other fees the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is basically the distinction that belongs to the investment platform in between the buy price 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 right now tesla’s dollar value 599 per share in tesla that in fact means that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you each time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to offer 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 wish to offer it which is how they make a little bit of cash on those spread fees it’s typically incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a little bit cash now the last feat is called an
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overnight cost now this is truly essential if you’re really using cfds yourself too an overnight cost is when you’re refraining from doing that buy sell transaction in the same day alright there’s then an over night fee charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one utilize which suggests you’re really purchasing the specific property instead of utilizing leverage anyway you will not get hit with these fees however these charges are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the very same day so let’s state if you enter into the aid area this isn’t the over night fees information you can see exactly the breakdown and it’ll tell you what are the charges what are the costs 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 surcharges obviously depending on what you are purchasing also this is on your own so keep that in mind but full fees are entirely within their aid info alright and we discussed along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of really using these copy operates they don’t have any additional costs on top of the typical charges that
are there now what you require to remember though is these potentially managed by other people completely or sometimes have developed portfolios you’ve got a real person doing the management you need to make certain you select the person that’s right for you just like any type of work 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 use this function we’ve got a number of various alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own cash but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real money perhaps this is a fantastic alternative for you again to check the theories alright you might wish to buy tesla or apple or this etf why not use the virtual choice as a method to sort of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time of course if you had invested your real money it enables you to develop confidence comprehend 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 bear in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy make certain you comprehend 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 investments the riskier you can be run the risk of just indicates am i all right with possibly losing an excellent quantity of this investment or getting as
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well now keep in mind whatever is downs and ups you will make money you’ll lose money that’s why they make the fact 75 individuals will lose money however that equally implies they’ll lose at some point in their journey clearly people do earn money also and i’ve got videos everything about how you can make certain you are among individuals to actually generate income but in this circumstance ensure you research your threat level would you be okay providing your cash 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 wanting to be that risky don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold or perhaps oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too actually quickly over here you can copy people now it will offer you a great deal of choices and you can utilize the system to really look for somebody that you fancy actually following so let’s see maybe we want somebody from united kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds reasonable that sounds a good quantity and i can discover everybody who has met that requirements and it does give you a threat element 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 individuals 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 could make 4 or minus 50 there’s no other 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 understand ask you to confirm are you all right with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she really 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 certainly like type of into those blue box and the tech market she’s got some of mine actually that i buy too which is excellent so really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the sort of main food business and you have actually got you understand pharmaceutical and production companies as that. Cryptocurrency Trading Chicago.
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