So to start the answer to Does Bitcoin Buy And Sell On Robinhood Count As Day Trades….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t want to decide what you in fact wish to invest and you want someone to do it for you there’s only a couple of manner ins which that can occur the first of all you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are produced 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 bear in mind this platform is quite innovative 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 learning more about please do study the platform do not simply presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you actually get used to the structure of the site 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 buying genuine business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row buy these options since you think is the right ones for you and that being said let’s dive directly in [Music] so the important 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 most likely.
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famous for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly important you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge websites then may not charge you for actually buying and selling etfs or funds private products specific stocks.
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there’ll be costs on other parts perhaps 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 reveal you the fees with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs truly important to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling all right so commission fees are free nevertheless there are a number of other costs the first one is withdrawal costs so you can undoubtedly 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 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 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might say all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those options that they have a lot of platforms obviously are 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 as soon as every six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually giving you in regards to 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 costs now the fantastic thing about however when you have actually converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their website will not definitely restrict you in any way however we need to know two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is essentially the distinction that is part of the investment platform in between the buy cost and the 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 really means that when you want to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing cost 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 find this all over this is another manner in which they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind certainly it’s more pricey to buy than it is to sell so they’re going to give you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a bit of cash on those spread fees it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last accomplishment is called an
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overnight charge now this is truly essential if you’re in fact utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell deal in the very same day alright there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend charge 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 in fact buying the precise possession instead of utilizing take advantage of anyway you won’t get hit with these fees however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s state if you enter into the help area this isn’t the over night charges info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that only uses as i said to cfds there are some service charges of course depending on what you are purchasing also this is on your own so keep that in mind but complete fees are completely within their help details okay and we discussed as well as totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of actually utilizing these copy works they do not have any extra fees on top of the regular costs that
exist now what you need to remember though is these potentially managed by other individuals entirely or often have produced portfolios you’ve got a real person doing the management you need to make sure you select the person that’s right for you similar to any line of work this is your monetary possessions so we definitely need to make sure it’s the right person for us prior to we copy them so the first things i would call it if you do want to use this function we have actually got a couple of various alternatives for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun 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 generally have this virtual portfolio imitate as if you are utilizing your own cash however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a terrific option for you once again to test the theories okay you might want to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe play with it clearly you might have missed out on gains and losses throughout that time obviously if you had invested your genuine money it permits you to construct confidence comprehend 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 in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you select someone 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 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 suggests am i all right with potentially losing a great amount of this investment or getting as
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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash but that equally indicates they’ll lose at some time in their journey obviously individuals do earn money as well and i have actually got videos all about how you can ensure you’re one of individuals to in fact earn money but in this situation make certain you research study your threat level would you be fine offering your money to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wanting to be that risky don’t pick someone who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong products
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like gold or perhaps oil plus more conventional etfs and index funds you might 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 really use this too actually easily over here you can copy individuals now it will give you a great deal of options and you can use the system to actually search for somebody that you expensive in fact following so let’s see possibly we want someone from united kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a good amount and i can find everyone who has satisfied that requirements and it does provide you a threat element as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of people that have quite high returns
bear in mind it resembles 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 might make four or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to verify are you all right with this and off you go now another way to in fact deep dive if we click this person for instance ruby mza as an example you can actually deep dive into what is she really purchasing 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 certainly like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is great so in fact for me understanding what i like to invest in my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s also got a little bit more um of the sort of primary food business and you’ve got you know pharmaceutical and production companies as that. Does Bitcoin Buy And Sell On Robinhood Count As Day Trades.
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