On this post you’ll find the answer to Does Binance Charge Fees….Questions that i speak with new financiers what if you’re brand new to investing you simply don’t want to choose what you really want to invest and you want somebody to do it for you there’s just a couple of ways that that can occur the to start with you can hire a financial investment portfolio manager they’ll typically charge a rather a high premium to do that maybe one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific 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 too now if you’re brand new to a total please keep in mind this platform is rather innovative you can do cfds which of course cfds are methods of investing
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with not really having the total of capital so with anything that you’re discovering please do study the platform don’t just presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the website and after that 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 buying real business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row purchase these choices since you think is the right ones for you which being said 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 element that is probably.
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well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 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 likewise cover is the costs involved really critical you comprehend 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 buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then may not charge you for in fact buying and selling funds or etfs specific products 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 fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you in fact start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really essential to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling all right so commission fees are free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
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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 want to withdraw your cash 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 absolutely need to now you might state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those choices that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a fee to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that fits me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering you in terms of 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 give me us dollars instead you have to pay their fees now the great thing about however when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their website won’t definitely restrict you in any way however we need to know two other fees the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is essentially the distinction that belongs to the financial investment platform in between the buy cost and the list price all right 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 actually indicates that when you wish to purchase or sell as you can see it’s not the price 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 actually to buy that share on the platform and you’ll discover this all over 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 pricey to buy 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 happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to sell it and that is how they make a little bit of cash on those spread fees it’s typically incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment firm 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 really using cfds yourself as well an over night fee is when you’re not doing that buy sell transaction in the very same day all right there’s then an over night fee charged and even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one take advantage of which implies you’re actually purchasing the specific property instead of utilizing leverage anyway you will not get hit with these costs however these fees are if you’re utilizing leverage and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the aid area this isn’t the over night costs info 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 over night or you’re doing over weekends and that only uses as i stated to cfds there are some surcharges naturally depending upon what you are purchasing too this is on your own so keep that in mind however complete charges are completely within their assistance information all right and we discussed in addition to totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two different methods of really using these copy functions they do not have any extra charges on top of the typical charges that
are there now what you require to remember though is these potentially handled by other individuals entirely or sometimes have created portfolios you’ve got a real person doing the management you need to make sure you choose the person that’s right for you similar to any type of work this is your monetary properties so we definitely need to ensure it’s the best individual 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 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 alternative to invest real money or a virtual platform virtual ways 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 credit card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own money but really purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your genuine money perhaps this is a terrific alternative for you again to test the theories okay you might want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe have fun with it certainly you might have lost out on gains and losses during that time of course if you had actually invested your genuine cash it permits you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to keep in mind prior to you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your risk profile is now what do i imply by that undoubtedly 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 just indicates am i fine with potentially losing a good quantity of this investment or getting as
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well now remember everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that similarly implies they’ll lose at some point in their journey undoubtedly people do generate income also and i’ve got videos everything about how you can ensure you are among individuals to in fact earn money but in this scenario ensure you research your threat level would you be alright giving your cash to another person which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that risky don’t select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more standard 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 state you can actually utilize this too truly quickly over here you can copy people now it will give you a great deal of options and you can utilize the system to really look for somebody that you fancy in fact following so let’s see maybe we want somebody from unified kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually met that requirements and it does offer you a danger element also so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it resembles anything to do with the news or predictions 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 chance to guarantee 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 verify are you fine with this and off you go now another way to in fact deep dive if we click this person for example ruby mza as an example you can really deep dive into what is she in fact purchasing 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 good 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 really that i purchase too which is excellent so in fact for me understanding what i like to invest in my individual 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 primary food companies and you’ve got you know pharmaceutical and production business as that. Does Binance Charge Fees.
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