On this post you’ll find the answer to Is Robinhood Safe For Cryptocurrency….Concerns that i speak with brand-new investors what if you’re brand new to investing you merely do not wish to choose what you really wish to invest and you desire somebody to do it for you there’s just a number of ways that that can occur the first off you can employ a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is of course you can purchase mutual funds particular funds are produced once 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 remember this platform is rather advanced 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 finding out about please do study the platform do not simply 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 consider that choice too so you really 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row purchase these choices because you believe is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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 option 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 money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for example 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 likewise cover is the fees included really critical you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business 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 zero cost websites then might not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 prior to you in fact begin investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with charges actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission fees are free nevertheless there are a couple of other fees the first one is withdrawal charges so you can certainly put cash in now if you remain 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 later on but when you want to withdraw your money so you sell your shares you offer your products 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 of course knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those alternatives that they have a lot 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 when every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the second fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’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 good 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 two free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 say give me us dollars instead you have to pay their fees now the excellent aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar value can sit 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 occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent utilizing that part of their site won’t definitely restrict you in any way however we have to know two other charges the very first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you
on is basically the difference that becomes part of the financial investment platform between the buy cost and the price okay it’s their premium on doing both those two 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 indicates that when you want to offer or purchase as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current price of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you whenever you do a purchaser’s share so keep that in mind clearly it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you state fine well why does that happen it simply 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 little bit of cash on those spread costs it’s typically exceptionally small it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last task is called an
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overnight charge now this is truly important if you’re really utilizing cfds yourself as well an over night charge is when you’re refraining from doing that buy offer transaction in the very same day fine there’s then an overnight cost charged or even if you go from the friday to the monday before sailing a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one take advantage of which implies you’re actually purchasing the exact asset instead of using take advantage of anyhow you will not get hit with these fees however these charges are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the exact same day so let’s state if you go into the aid area this isn’t the overnight charges information you can see exactly 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 just applies as i said to cfds there are some surcharges naturally depending upon what you are investing in too this is on your own so keep that in mind however complete costs are completely within their help information fine and we spoke about as well as free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of actually using these copy operates they do not have any additional costs on top of the normal costs that
exist now what you need to remember though is these potentially managed by other people totally or often have actually produced portfolios you’ve got a genuine individual doing the management you need to make certain you choose the person that’s right for you just like any line of work this is your monetary possessions so we definitely need to make certain 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’ve got a couple of various choices for us first off 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 have fun with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine cash maybe this is an excellent choice for you once again to test the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual choice as a way to kind of safe play with it clearly you might have lost out on gains and losses during that time obviously if you had invested your genuine cash it permits 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 really how to copy individuals and copy portfolios now here’s something to keep in mind prior to you choose somebody 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 mean by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply suggests am i fine with potentially losing a good amount of this financial investment or gaining as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally implies they’ll lose at some time in their journey obviously individuals do make money too and i’ve got videos all about how you can ensure you’re one of individuals to really generate income but in this scenario make sure you research study your threat level would you be all right providing your money to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in totally if you’re somebody who isn’t wishing to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or perhaps oil plus more conventional 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 really easily over here you can copy people now it will provide you a great deal of choices and you can use the system to really look for somebody that you elegant really following so let’s see maybe we desire 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 an excellent quantity and i can find everybody who has actually satisfied that requirements and it does provide you a danger factor too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of people that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no 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 verify are you okay with this and off you go now another method 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 actually investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so actually for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the type of primary food business and you have actually got you understand pharmaceutical and production business as that. Is Robinhood Safe For Cryptocurrency.
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