On this post you’ll find the answer to Lee Chief Risk Officer Etrade Jersey City….Questions that i hear from new financiers what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can occur the to start with you can work with an investment portfolio supervisor they’ll normally charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is naturally you can purchase mutual funds specific funds are created 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 also now if you’re brand new to a total please remember this platform is rather advanced 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 learning more about please do study the platform don’t simply presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually stated they’ve made revenue 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 important 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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popular for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included actually vital you comprehend what are the costs 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 involved and even some of the no charge websites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling alright so commission charges are complimentary nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly 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 later but when you want to withdraw your cash so you offer 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those options that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a cost to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying 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 utilizing trading 2 and 2 open market anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they really providing 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 say provide me us dollars instead you have to pay their costs now the terrific feature of though when you’ve transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means 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 extra charges so that’s actually excellent using that part of their website won’t certainly restrict you in any way nevertheless we need to know two other charges the first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread fee as i’m going to show you
on is essentially the distinction that belongs to the financial investment platform in between the buy cost and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar value 599 per share in tesla that actually indicates that when you want to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the existing rate of tesla is the worth of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a small amount of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you say all right well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to offer it which is how they make a little bit of cash on those spread out charges it’s usually extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit cash now the last accomplishment is called an
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overnight cost now this is actually essential if you’re in fact utilizing cfds yourself also an over night cost is when you’re not doing that buy sell transaction in the same day okay there’s then an over night cost charged or even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re actually buying out the etf the stock the product and using time one utilize which implies you’re actually purchasing the exact property instead of utilizing utilize anyway you will not get hit with these fees however these fees are if you’re using utilize and cfds and then you’re going to have these fees if you’re not buy selling in the very same day so let’s say if you enter into the help section this isn’t the over night fees info you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i said to cfds there are some added fees of course depending on what you are investing in also this is on your own so keep that in mind however full costs are totally within their help details alright 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 regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of in fact using these copy operates they do not have any extra charges on top of the regular fees that
exist now what you need to keep in mind though is these potentially managed by other people entirely or sometimes have produced portfolios you have actually got a real person doing the management you have to ensure you pick the person that’s right for you similar to any kind of work this is your financial properties so we absolutely need to make sure it’s the ideal individual 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 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 play with and it’s not real cash that you’re investing you won’t require to put in your charge card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with utilizing your real cash maybe this is a great alternative for you again to check the theories alright you might want to purchase tesla or apple or this etf why not use the virtual choice as a method to sort of safe play with it obviously you may have lost out on gains and losses during that time naturally if you had invested your genuine money it allows you to construct confidence comprehend the platform so that’s one alternative 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 before you select somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i indicate 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 simply indicates am i all right with potentially losing a good amount of this financial investment or gaining as
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well now remember whatever is downs and ups you will make money you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that equally implies they’ll lose at some time in their journey undoubtedly people do make money as well and i’ve got videos all about how you can make sure you’re one of individuals to really generate income however in this situation ensure you research your danger level would you be fine providing your money to someone else which is efficiently what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky do not choose somebody who’s completely into crypto or currency conversion think about 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 exact same with who you’re following now as i say you can actually utilize this too actually easily over here you can copy individuals now it will offer you a lot of options and you can use the system to actually search for somebody that you expensive in fact following so let’s see possibly we desire somebody from united kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has satisfied that criteria and it does provide you a risk aspect also so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember it’s like 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 might 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 know ask you to confirm are you fine with this and off you go now another method to really 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 enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s absolutely like sort of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is good so actually for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production business as that. Lee Chief Risk Officer Etrade Jersey City.
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