We get htis a lot on our site the answer to Coinbase Kraken Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you merely don’t wish to decide what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of ways that that can happen the first of all you can hire an investment portfolio manager they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 sophisticated you can do cfds which naturally cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform do not just presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row invest in these options because you think is the ideal ones for you which being stated let’s dive directly 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 aspect that is most likely.
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well-known for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be mimicked 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 also cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost websites then might not charge you for actually buying and selling funds or etfs specific products private stocks.
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there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you really begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees truly essential to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission costs are free nevertheless there are a couple of other fees the first one is withdrawal fees so you can obviously put money 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 in the future but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum amount 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 certain that i’m just withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those options that they have a lot of platforms clearly are 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 6 months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 offer me us dollars rather you need to pay their charges now the great thing about though when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their website won’t definitely limit you in any way however we have to know 2 other charges the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you
on is generally the difference that belongs to the financial investment platform in between the buy cost 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 worth 599 per share in tesla that in fact indicates that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the current rate of tesla is the value of a share what’s called spread fees is the difference then actually to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of benefit from you each time you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you say fine 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 sell it and that is how they make a bit of cash on those spread costs it’s generally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money now the last feat is called an
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over night cost now this is truly crucial if you’re really using cfds yourself as well an over night fee is when you’re not doing that buy sell transaction in the exact same day okay there’s then an overnight fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend charge 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 actually purchasing the precise asset instead of using utilize anyhow you won’t get hit with these costs but these fees are if you’re using utilize and cfds and then you’re going to have these charges if you’re not buy offering in the same day so let’s state if you go into the assistance area this isn’t the over night costs details 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 over night or you’re doing over weekends and that only applies as i stated to cfds there are some added fees of course depending on what you are purchasing also this is on your own so keep that in mind however full fees are completely within their assistance information fine and we talked about 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 regular 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 two different methods of in fact utilizing these copy operates they do not have any extra costs on top of the typical fees that
are there now what you require to remember though is these possibly managed by other individuals totally or sometimes have created portfolios you have actually got a genuine individual doing the management you need to ensure you select the individual that’s right for you similar to any profession this is your monetary assets so we absolutely require to make sure it’s the ideal 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 different choices for us first of all 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 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 require to put in your charge card information or anything you can generally have this virtual portfolio mimic as if you are using your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your real cash perhaps this is an excellent option for you once again to evaluate the theories all right you may want to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe have fun with it clearly you may have lost out on gains and losses throughout that time obviously if you had invested your real money it allows you to develop self-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 actually how to copy people and copy portfolios now here’s something to remember prior to you pick someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i indicate 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 just indicates am i fine with possibly losing a good amount of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly indicates they’ll lose eventually in their journey clearly people do make money too and i have actually got videos everything about how you can make sure you are among the people to really make money but in this circumstance make sure you research study your danger level would you be all right giving your cash to another person which is successfully what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous do not select somebody who’s entirely into crypto or currency conversion consider it you ‘d most likely desire a foundation 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 truly easily over here you can copy individuals now it will give you a lot of options and you can use the system to actually search for someone that you expensive really following so let’s see perhaps we want someone from joined kingdom um who invests in let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has satisfied that criteria and it does offer you a threat aspect too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns
remember it resembles anything to do with the news or predictions of the future this does not imply someone 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 then you understand ask you to validate 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 instance ruby mza as an example you can in fact deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine in fact that i invest in too which is good so actually for me understanding what i like to invest in 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 chooses she’s likewise got a bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production business as that. Coinbase Kraken Etoro.
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