On this post you’ll find the answer to Katherine Hahn Coinbase….Questions 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 want someone to do it for you there’s just a couple of manner ins which that can happen the firstly you can employ a financial investment portfolio manager they’ll normally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are developed 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 a total please remember this platform is quite sophisticated you can do cfds which naturally cfds are methods of investing
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with not in fact having the full amount of capital so with anything that you’re learning about please do study the platform don’t just assume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact 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 of course your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row invest in these options because you believe is the right ones for you and that being said 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 aspect 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 generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for instance 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 also cover is the charges involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 some of the zero fee websites 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 maybe 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 costs with in particular in this video the next would be things to know prior to you really start buying copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs really crucial to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other fees the first one is withdrawal fees so you can certainly put cash in now if you’re 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 wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five 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 may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow 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 anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type 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 giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state offer me us dollars rather you need to pay their costs now the fantastic thing about though when you have actually converted your cash you do not have to invest it immediately 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their site won’t certainly limit you in any way however we need to know 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you
on is generally the difference that becomes part of the investment platform in between the buy rate and the sale price okay 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 means that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that again so the current cost of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit 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 sell so they’re going to give you less back with your sale and you state alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell it which is how they make a little bit of money on those spread fees it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit money now the last accomplishment is called an
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overnight cost now this is truly essential if you’re really using cfds yourself also an over night fee is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an over night cost charged or perhaps 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 product and utilizing time one utilize which means you’re actually buying the precise property instead of using take advantage of anyway you won’t get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and then 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 section this isn’t the overnight charges information 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 only uses as i said to cfds there are some service charges naturally depending on what you are investing in too this is on your own so keep that in mind however full costs are completely within their assistance info all right and we talked about as well as complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds normal 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 various ways of really utilizing these copy works they don’t have any extra charges on top of the regular fees that
exist now what you need to remember though is these possibly handled by other people completely or sometimes have produced portfolios you’ve got a real individual doing the management you have to make sure you select the person that’s right for you much like any line of work this is your financial assets so we definitely require to make sure it’s the best person for us before 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 alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash but actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money perhaps this is a fantastic choice for you once again to test the theories fine you may want to purchase tesla or apple or this etf why not use the virtual alternative as a method to kind of safe play with it obviously you may have missed out on gains and losses during that time naturally if you had invested your genuine cash it allows you to construct confidence understand the platform so that’s one option 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 people and copy portfolios now here’s something to remember before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i indicate 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 just implies am i fine with potentially losing a great amount of this investment or acquiring as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 individuals will lose cash but that equally suggests they’ll lose at some time in their journey undoubtedly individuals do generate income as well and i have actually got videos all about how you can make sure you are among the people to really generate income but in this situation make certain you research your danger level would you be all right providing your money to somebody else which is effectively what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s completely into crypto or currency conversion consider it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more traditional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can really use this too actually 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 someone that you expensive really following so let’s see possibly we want someone from joined kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds reasonable that sounds a good quantity and i can discover everyone who has satisfied that criteria and it does provide you a threat factor also so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of people that have quite high returns
bear in mind it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy 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 this person for instance ruby mza as an example you can in fact deep dive into what is she in fact buying so let’s enter 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 certainly like sort of into those blue box and the tech industry she’s got a few of mine really that i buy too which is great so really for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got an excellent spread in tech business that appears to be what she prefers she’s likewise got a little bit more um of the kind of main food business and you have actually got you know pharmaceutical and production companies as that. Katherine Hahn Coinbase.
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