Is Freetrade Any Good – Turtles of Trading

On this post you’ll find the answer to Is Freetrade Any Good….Questions that i speak with brand-new financiers what if you’re brand new to investing you just do not wish to decide what you actually wish to invest and you want someone to do it for you there’s only a number of manner ins which that can occur the first off you can hire a financial investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can purchase mutual funds specific funds are produced once 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 too now if you’re brand new to a total please keep in mind this platform is rather advanced you can do cfds which of course 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 presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually said they’ve made profit 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending 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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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 and so that suggests with our money we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then may not charge you for really buying and selling etfs or funds individual commodities 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 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 understand before you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really crucial to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling all right so commission fees are complimentary however there are a number of other fees the first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.

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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state 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 charges are just among those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a cost to remember the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only 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 purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there 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 provide me us dollars rather you have to pay their fees now the fantastic thing about though when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase 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 great using that part of their website won’t certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you

on is essentially the distinction that is part of the investment platform in between the buy rate 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 site today tesla’s dollar value 599 per share in tesla that actually indicates that when you want to purchase 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 current cost of tesla is the value of a share what’s called spread fees is the distinction then really to purchase that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of make money from you whenever you do a buyer’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 state okay well why does that happen it just 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 want to sell it which is how they make a bit of cash on those spread out fees it’s usually incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last feat is called an

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overnight fee now this is actually important if you’re really using cfds yourself also an over night charge is when you’re not doing that buy offer deal in the same day alright there’s then an overnight cost charged or perhaps if you go from the friday to the monday before cruising a weekend charge 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 in fact purchasing the specific asset instead of using take advantage of anyhow you won’t get hit with these fees but these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you go into the help area this isn’t the overnight costs details 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 and that only applies as i said to cfds there are some service charges of course depending upon what you are purchasing too this is on your own so keep that in mind however full fees are totally within their help information all right and we discussed along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are 2 different methods of really using these copy functions they don’t have any extra costs on top of the regular charges that

are there now what you need to remember though is these possibly handled by other people completely or often have developed portfolios you have actually got a real individual doing the management you have to make sure you pick the person that’s right for you much like any kind of work this is your financial assets so we absolutely require to ensure it’s the best person for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different choices for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest genuine 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 need to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are using your own cash but really buy pretend buy copy people whatever you like if you’re not

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feeling comfy with using your real cash perhaps this is a terrific alternative for you once again to evaluate the theories okay you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to sort of safe have fun with it clearly you may have lost out on gains and losses during that time obviously if you had invested your genuine money it permits you to develop self-confidence comprehend the platform so that’s one alternative 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 individuals and copy portfolios now here’s something to keep in mind before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i mean by that certainly 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 implies am i fine with possibly losing a great amount of this financial investment or acquiring as

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well now remember everything is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 people will lose money but that equally implies they’ll lose eventually in their journey clearly individuals do make money also and i’ve got videos all about how you can make sure you’re one of individuals to in fact generate income but in this circumstance make certain you research study your danger level would you be okay offering your money to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re buying fully if you’re somebody who isn’t wanting to be that risky do not choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably want a foundation of strong products

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like gold and even oil plus more traditional etfs and index funds you might 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 really quickly over here you can copy people now it will provide you a great deal of choices and you can utilize the system to actually search for somebody that you elegant actually following so let’s see maybe we want someone from joined kingdom um who buys let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a great quantity and i can find everyone who has satisfied that criteria and it does provide you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a variety of people that have rather high returns

bear in mind it’s like anything to do with the news or predictions of the future this does not suggest someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you know ask you to validate are you okay with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can actually 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 certainly like sort of into those blue box and the tech industry she’s got a few of mine in fact that i buy too which is great 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 appears to be what she prefers she’s also got a bit more um of the kind of primary food business and you have actually got you know pharmaceutical and production companies as that. Is Freetrade Any Good.

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