So to start the answer to Forex Trading Expert Elijah Marks….Questions that i speak with brand-new financiers what if you’re brand new to investing you just do not want to choose what you actually wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can take place the first of all you can hire a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are developed 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 keep in mind this platform is quite advanced you can do cfds which naturally 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 finding out about please do study the platform do not simply presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you in fact get used to the structure of the website and after that 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 real business if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row invest in these choices since you think is the best ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really vital you understand what are the expenses 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 included and even some of the absolutely no fee websites then may not charge you for really buying and selling etfs or funds specific commodities individual stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 in fact begin purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling fine so commission costs are free however there are a couple of other costs the very first one is withdrawal charges so you can obviously put cash in now if you’re 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 however when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say 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 costs someplace and withdrawal costs are simply one of those choices that they have a great deal 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 once every six months you know depends completely how you’re investing but that is a charge to remember the 2nd fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that fits 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 cost now when you use anybody so if you’re using trading 2 and two open market anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact offering you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say offer me us dollars rather you need to pay their fees now the fantastic thing about however when you have actually converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 charges so that’s really good using that part of their website won’t certainly limit you in any way nevertheless we have to be aware of 2 other fees the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is essentially the difference that belongs to the financial investment platform between the buy rate and the price okay it’s their premium on doing both those 2 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 actually implies that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another manner in which 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 buy than it is to sell so they’re going to provide you less back with your sale and you say all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to sell it and that is how they make a bit of cash on those spread charges it’s typically incredibly little 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 bit cash now the last feat is called an
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over night charge now this is actually crucial if you’re in fact using cfds yourself too an over night fee is when you’re not doing that buy offer transaction in the exact same day okay 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 actually buying out the etf the stock the product and utilizing time one leverage which suggests you’re actually purchasing the precise asset instead of using utilize anyway you will not get hit with these charges however these fees are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the help section this isn’t the over night costs details you can see precisely 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 applies as i stated to cfds there are some additional charges of course depending upon what you are buying too this is on your own so keep that in mind however complete fees are completely within their aid details alright and we discussed as well as free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various ways of actually using these copy operates they don’t have any extra costs on top of the typical costs that
exist now what you need to remember though is these possibly managed by other people totally or in some cases have actually developed portfolios you have actually got a genuine person doing the management you have to ensure you select the individual that’s right for you just like any kind of work this is your financial possessions so we absolutely require to ensure it’s the best individual for us before 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 different options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the option to invest real cash or a virtual platform virtual ways i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are utilizing your own money but actually buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash perhaps this is a fantastic option for you again to test the theories okay you might want to purchase tesla or apple or this etf why not use the virtual option as a way to sort of safe play with it undoubtedly you may have lost out on gains and losses throughout that time naturally if you had actually invested your real cash it allows you to construct self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to bear in mind before you pick 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 indicate by that certainly 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 just suggests am i alright with potentially losing a good quantity of this investment or gaining as
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well now remember whatever is ups and downs you will earn money you’ll lose cash that’s why they make the fact 75 people will lose cash however that similarly means they’ll lose eventually in their journey obviously people do make money as well and i’ve got videos all about how you can make certain you’re one of the people to really make money however in this situation make certain you research your danger level would you be alright providing your cash to somebody else which is successfully what you’re doing and trusting them make certain you understand what they’re investing in completely if you’re someone who isn’t wanting to be that risky do not select someone who’s totally into crypto or currency conversion think about 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 very same with who you’re following now as i say you can really use this too actually easily over here you can copy people now it will provide you a lot of options and you can use the system to really search for someone that you elegant in fact following so let’s see possibly we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has met that requirements and it does offer 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 obviously there are a variety of individuals that have quite high returns
bear 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 chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you all right with this and off you go now another method to actually deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact 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 great to know ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got a few of mine really that i purchase too which is excellent so actually for me knowing what i like to buy my specific 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 type of main food business and you have actually got you understand pharmaceutical and production companies as that. Forex Trading Expert Elijah Marks.
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