So to start the answer to Does First Midwest Bank Support Coinbase….Questions that i speak with new financiers what if you’re brand new to investing you just do not want to decide what you really want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can occur the first off you can hire a financial investment portfolio supervisor they’ll generally charge a rather a high premium to do that possibly one or two percent of your earnings will go to them the other thing is of course you can buy mutual funds particular funds are created once 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 an overall please remember this platform is quite sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform don’t just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you actually get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that person has actually stated they’ve made earnings 14 months in a row purchase these choices since you think is the right ones for you which being said let’s dive straight in [Music] so the important 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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famous for it’s the option to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included really important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 websites then may not charge you for actually buying and selling etfs or funds private products private stocks.
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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 before you in fact start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly crucial to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission costs are free however there are a number of other costs the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those options that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a fee to remember the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
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a lot 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 cost now when you use anybody so if you’re using trading 2 and 2 open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there 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 have to pay their costs now the fantastic aspect of however when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates 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 fees so that’s really great utilizing that part of their website won’t definitely restrict you in any way however we have to understand 2 other costs the first being what’s called spread charges alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is essentially the difference that becomes part of the investment platform between the buy rate and the sale price alright it’s their premium on doing both those two 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 sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing rate of tesla is the value of a share what’s called spread charges is the difference then really 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 every time you do a purchaser’s share so keep that in mind obviously it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread costs it’s normally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit cash now the last feat is called an
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over night fee now this is really essential if you’re really using cfds yourself also an overnight charge is when you’re refraining from doing that buy offer deal in the same day alright there’s then an over night fee charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re in fact buying the specific asset rather than using utilize anyhow you will not get hit with these fees but these costs are if you’re using take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you go into the assistance area this isn’t the overnight fees info you can see exactly the breakdown and it’ll tell 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 additional charges of course depending upon what you are purchasing too this is on your own so keep that in mind however full charges are totally within their aid details okay and we talked about in addition to totally free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that five dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of actually utilizing these copy functions they don’t have any extra charges on top of the typical charges that
exist now what you need to remember though is these possibly managed by other people entirely or sometimes have produced portfolios you’ve got a genuine person doing the management you need to ensure you choose the individual that’s right for you similar to any profession this is your monetary possessions so we definitely need to ensure it’s the best person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a number of various choices 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 cash or a virtual platform virtual ways 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 simulate as if you are using your own cash but in fact purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a great option for you again to test the theories alright you might want to buy tesla or apple or this etf why not use the virtual option as a way to kind of safe have fun with it certainly you might have missed out on gains and losses during that time obviously if you had invested your real cash it permits you to develop confidence understand the platform so that’s one alternative for you then next week and i’m going to go back 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 choose someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i indicate by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply indicates am i fine 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 earn money you’ll lose money that’s why they make the figure 75 individuals will lose cash however that similarly means they’ll lose at some point in their journey clearly individuals do make money too and i have actually got videos all about how you can ensure you are among individuals to actually generate income but in this circumstance ensure you research study your danger level would you be fine offering your cash to another person which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that risky do not choose someone who’s totally into crypto or currency conversion consider it you ‘d probably want a foundation of strong commodities
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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 same with who you’re following now as i say you can actually use this too really quickly over here you can copy individuals now it will give you a great deal of options and you can utilize the system to really search for somebody that you elegant in fact following so let’s see perhaps we want someone from united kingdom um who invests in let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually met that requirements and it does offer you a danger aspect also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns
keep in mind it resembles anything to do with the news or forecasts of the future this does not suggest someone 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 basic 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 really deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she really buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got some of mine in fact that i buy too which is great so really for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production business as that. Does First Midwest Bank Support Coinbase.
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