On this post you’ll find the answer to Bitcoin Trade Simulator, Binance….Questions that i speak with brand-new financiers what if you’re brand new to investing you simply do not wish to decide what you actually want to invest and you want somebody to do it for you there’s only a number of ways that that can take place the to start with you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that maybe one or two percent of your revenues will go to them the other thing is naturally you can buy mutual funds particular funds are produced 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 as well now if you’re brand new to an overall please bear in mind this platform is rather innovative you can do cfds which naturally cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume since 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 option also so you actually get used to the structure of the website and then when you’re ready to utilize 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 investing in real business if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row invest in these choices because you think is the best ones for you which being stated 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 belongs to social trading which is one aspect that is most likely.
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popular for it’s the option to see what other traders are doing extraordinary 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 means with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for example 10 of their 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 costs included really critical you understand what are the expenses of this now with any platform there will be some cost to obviously 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 a few of the zero cost websites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really essential to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission fees are totally free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can certainly put money 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 wish 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those options that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends totally how you’re investing however that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they really 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 state offer me us dollars instead you need to pay their costs now the terrific feature of though when you’ve transformed your money you do not need to invest it right now 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 additional fees so that’s truly great utilizing that part of their site won’t certainly limit you in any way however we have to be aware of two other costs the first being what’s called spread fees fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform in between the buy price 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 right now tesla’s dollar value 599 per share in tesla that in fact indicates that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the value of a share what’s called spread charges is the difference then in fact to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of profit from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you state fine well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread charges it’s usually exceptionally small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit money now the last feat is called an
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over night charge now this is truly important if you’re in fact utilizing cfds yourself also an overnight cost is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re actually buying the exact possession rather than utilizing take advantage of anyway you will not get hit with these fees but these fees are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy offering in the same day so let’s state if you enter into the assistance area this isn’t the overnight charges information you can see precisely 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 which just uses as i said to cfds there are some added fees of course depending on what you are investing in too this is on your own so keep that in mind however full fees are entirely within their help info alright and we talked about in addition to totally free to deposit in however there’s a 5 dollar charge if you want 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 have actually stated copy trading and copy portfolios are two different methods of in fact using these copy works they don’t have any extra charges on top of the typical charges that
are there now what you need to keep in mind though is these possibly managed by other people entirely or often have actually produced portfolios you’ve got a genuine individual doing the management you have to ensure you choose the person that’s right for you just like any kind of work this is your financial assets so we absolutely require to ensure it’s the right individual for us before we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different options for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative 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 won’t need to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are using your own cash but really buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is an excellent alternative for you once again to test the theories fine you might want to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe have fun with it certainly you may have missed out on gains and losses during that time obviously if you had actually invested your real money it enables you to build confidence comprehend 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 keep in mind before you choose somebody 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 mean 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 risk simply indicates am i all right with potentially losing a good quantity of this investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that similarly suggests they’ll lose eventually in their journey certainly individuals do generate income also and i’ve got videos everything about how you can make certain you’re one of individuals to in fact generate income but in this scenario ensure you research study your risk level would you be fine offering your cash to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t choose someone who’s totally into crypto or currency conversion think of it you ‘d most likely desire a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you may not desire 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 utilize this too truly easily over here you can copy individuals now it will provide you a lot of options and you can utilize the system to in fact look for someone that you expensive in fact following so let’s see possibly we want someone from joined kingdom um who invests in let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everyone who has met that requirements and it does provide you a risk aspect as well so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of people that have rather high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could 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 after that you understand ask you to confirm are you all right with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she in fact investing in 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 excellent to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is excellent so in fact for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s likewise got a bit more um of the type of main food companies and you have actually got you understand pharmaceutical and production business as that. Bitcoin Trade Simulator, Binance.
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