Is Robinhood The Best Trading App – Turtles of Trading

On this post you’ll find the answer to Is Robinhood The Best Trading App….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t wish to decide what you in fact want to invest and you desire someone to do it for you there’s only a number of manner ins which that can happen the firstly you can work with a financial investment portfolio manager they’ll typically charge a quite a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is naturally 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 as well now if you’re brand new to an overall please bear in mind this platform is quite 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 discovering please do study the platform don’t just presume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option too so you actually get used to the structure of the site 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 buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so certainly 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 have actually made earnings 14 months in a row purchase these options since you think is the right ones for you and that 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 element that is most likely.

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well-known for it’s the option to see what other traders are doing unbelievable we do not 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 money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 charge websites then may not charge you for actually buying and selling funds or etfs specific commodities individual stocks.

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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you really begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees really essential to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission charges are totally free however there are a couple of other fees the very first one is withdrawal costs 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 immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms undoubtedly are totally free 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 once every six months you understand depends totally how you’re investing however that is a charge to keep in mind the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.

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a great deal 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 charge now when you utilize anyone so if you’re using trading two and 2 open market anyone at all 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 exists what are they actually giving 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 instead you have to pay their charges now the excellent aspect of however when you have actually transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site won’t certainly restrict you in any way nevertheless we need to understand 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 cost as i’m going to show you

on is generally the distinction that belongs to the investment platform in between the buy rate and the list 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 today tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to sell or purchase as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the worth of a share what’s called spread fees is the distinction then actually to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to provide you less back with your sale and you state all right well why does that happen 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 money on those spread out costs it’s normally 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 bit money now the last accomplishment is called an

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over night charge now this is really crucial if you’re actually using cfds yourself also an over night cost is when you’re not doing that buy offer deal in the very same day okay there’s then an over night charge charged and even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re actually buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re really purchasing the exact asset rather than utilizing leverage anyway you will not get hit with these charges but these charges 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 very same day so let’s say if you enter into the help area this isn’t the over night costs info you can see exactly the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i stated to cfds there are some added fees obviously depending upon what you are purchasing also this is on your own so keep that in mind however full fees are totally within their help info okay and we spoke about along with complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually using these copy works they do not have any additional fees on top of the regular costs that

exist now what you require to remember though is these potentially managed by other people entirely or in some cases have produced portfolios you have actually got a real individual doing the management you have to ensure you choose the individual that’s right for you much like any profession this is your financial properties so we absolutely need to make sure it’s the best individual for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different options for us first of all if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with using your real money maybe this is a fantastic alternative for you again to test the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual alternative as a method to sort of safe have fun with it clearly you may have missed out on gains and losses during that time of course if you had invested your real cash it permits you to build confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to keep in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i suggest by that clearly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just suggests am i all right with possibly losing a great amount of this investment or acquiring as

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well now remember whatever is ups and downs you will make money you’ll lose cash that’s why they make the figure 75 people will lose cash but that equally implies they’ll lose at some point in their journey obviously people do make money as well and i have actually got videos everything about how you can make certain you’re one of individuals to really earn money but in this circumstance ensure you research study your risk level would you be okay giving your cash to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that dangerous don’t choose someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong products

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like gold or perhaps oil plus more traditional etfs and index funds you might not want 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 actually quickly over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually search for somebody that you expensive actually following so let’s see perhaps we desire somebody from unified kingdom um who invests in let’s see who does etfs they have actually gotten at least 10 yeah that sounds fair that sounds a good quantity and i can find everybody who has actually satisfied that criteria and it does give you a threat aspect also 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 individuals that have quite high returns

bear in mind it resembles anything to do with the news or forecasts of the future this does not indicate someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to guarantee so do keep that in mind and as simple 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 instance ruby mza as an example you can actually deep dive into what is she really 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 little bit so that’s excellent to understand ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine actually that i purchase too which is good so in fact for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. Is Robinhood The Best Trading App.

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