So to start the answer to How To Trade Cryptocurrency If Youre Under 18….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t wish to decide what you actually 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 of all you can employ an investment portfolio supervisor they’ll normally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 too now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform do not just assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative 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 investing in real business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the best ones for you and that 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 element that is probably.
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famous 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 actually say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for instance 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 also cover is the costs involved actually important you understand what are the costs of this now with any platform there will be some expense 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 a few of the absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds individual products individual stocks.
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there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 prior to you in fact begin purchasing copy trading or copy portfolios and lastly some best advice best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly 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 but when you wish 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those choices that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that matches me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving 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 say provide me us dollars rather you have to pay their fees now the terrific aspect of though when you’ve converted your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their website will not definitely restrict you in any way however we have to be aware of two other charges the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you
on is essentially the distinction that is part of the financial investment platform between the buy cost and the sale price all right it’s their premium on doing both those 2 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 suggests that when you wish to purchase or sell as you can see it’s not the price you’re seeing up here let me show you that again so the existing cost of tesla is the worth of a share what’s called spread fees is the distinction then in fact 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 each time you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to buy than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread out charges it’s typically extremely small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit cash now the last task is called an
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overnight cost now this is truly essential if you’re in fact using cfds yourself too an overnight cost is when you’re refraining from doing that buy offer transaction in the very same day okay there’s then an overnight charge charged and even 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 take advantage of which suggests you’re in fact buying the exact property instead of utilizing utilize anyway you won’t get hit with these fees however these costs are if you’re utilizing take advantage of 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 enter into the help section this isn’t the overnight charges info you can see precisely the breakdown and it’ll tell you what are the charges what are the costs 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 service charges obviously depending upon what you are purchasing as well this is on your own so keep that in mind however full charges are completely within their aid info all right and we spoke about as well as totally free to deposit in however 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 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of really using these copy operates they do not have any extra fees on top of the regular fees that
are there now what you need to bear in mind though is these potentially managed by other people entirely or often have actually developed portfolios you have actually got a real person doing the management you have to make certain you pick the person that’s right for you similar to any profession this is your monetary properties so we absolutely require to make sure it’s the best individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option 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 money that you’re investing you will not require to put in your charge card details or anything you can essentially have this virtual portfolio imitate as if you are using your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your real cash maybe this is a great option for you once again to check the theories alright you might wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe play with it clearly you might have lost out on gains and losses during that time obviously if you had invested your real cash it allows you to develop 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 people and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i imply by that clearly 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 run the risk of simply suggests am i all right with potentially losing an excellent quantity of this financial investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose cash however that similarly means they’ll lose at some time in their journey undoubtedly people do make money too and i’ve got videos everything about how you can make sure you are among the people to actually make money but in this situation ensure you research your danger level would you be fine providing your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wanting to be that risky don’t pick somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a backbone of strong products
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like gold and even 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 state you can actually utilize this too actually easily over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually look for someone that you elegant really following so let’s see perhaps we desire someone from united kingdom um who purchases let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has actually fulfilled that requirements 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 undoubtedly there are a number 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 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 ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you know ask you to confirm are you okay 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 in fact deep dive into what is she in fact purchasing so let’s go 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 know ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got a few of mine in fact that i buy too which is good so actually for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she chooses she’s likewise got a little bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production companies as that. How To Trade Cryptocurrency If Youre Under 18.
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