On this post you’ll find the answer to Robinhood App We Could Not Approve Your Application….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely do not wish to choose what you really wish to invest and you desire someone to do it for you there’s only a number of ways that that can occur the first of all you can employ an investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps a couple of percent of your revenues will go to them the other thing is of course you can buy 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 as well now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which of course cfds are methods 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 don’t just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you in fact get used to the structure of the website and after that when you’re ready to use your own cash 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 pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you which being said let’s dive straight 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 most likely.
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popular for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial 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 charges involved really important you understand what are the expenses of this now with any platform there will be some expense to obviously these are real 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 sites then might not charge you for actually buying and selling etfs or funds private products individual 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 charges 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 purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with charges really essential to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal charges 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 in the future but when you wish to withdraw your cash so you offer your shares you sell your commodities 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 sure that i’m only withdrawing when i definitely need to now you may state alright 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 somewhere and withdrawal costs are simply among those options that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know 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 an alternative to buy in euros or uk and that’s fine that fits me.
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a great deal 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 fee now when you utilize anybody so if you’re utilizing trading two and two open market anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really 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 need to pay their costs now the fantastic thing about 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 money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the distinction that becomes part of the investment platform between the buy price 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 worth 599 per share in tesla that really implies that when you want to buy or offer as you can see it’s not the price you’re seeing up here let me show you that again so the existing price of tesla is the worth of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of benefit from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you say alright well why does that happen it simply 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 and that is how they make a bit of money on those spread costs it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a little bit money now the last feat is called an
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over night charge now this is really essential if you’re actually utilizing cfds yourself as well an overnight charge is when you’re not doing that buy offer transaction in the very same day all right there’s then an over night fee charged or perhaps if you go from the friday to the monday before sailing a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which implies you’re really buying the exact property instead of using take advantage of anyway you won’t get hit with these costs however these costs are if you’re utilizing utilize and cfds and after that you’re going to have these charges 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 overnight costs details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only uses as i said to cfds there are some service charges obviously depending on what you are purchasing as well this is on your own so keep that in mind however complete fees are totally within their aid info okay and we spoke 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 regular commodity stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of actually utilizing these copy works they do not have any additional charges on top of the normal costs that
are there now what you need to keep in mind though is these potentially managed by other people completely or sometimes have actually produced portfolios you have actually got a real person doing the management you need to make sure you pick the individual that’s right for you much like any type of work this is your financial assets so we definitely need to ensure 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 have actually got a number of various choices 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 real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash but really buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real cash perhaps this is a great option for you once again to evaluate the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe have fun with it certainly you may have lost out on gains and losses during that time naturally if you had actually invested your genuine cash it enables you to construct confidence comprehend the platform so that’s one choice 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 individuals and copy portfolios now here’s something to bear in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i mean by that clearly 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 simply implies am i alright with potentially losing an excellent quantity of this financial investment or gaining as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose money but that similarly implies they’ll lose at some point in their journey obviously people do earn money also and i’ve got videos everything about how you can make sure you are among individuals to really make money but in this situation make certain you research study your danger level would you be alright offering your cash to another person which is effectively what you’re doing and trusting them make sure you comprehend what they’re investing in completely if you’re someone who isn’t wanting to be that risky don’t choose somebody who’s completely into crypto or currency conversion think about it you ‘d probably want a foundation of strong commodities
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like gold or perhaps 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 say you can actually use this too actually quickly over here you can copy people now it will provide you a great deal of options and you can utilize the system to in fact look for somebody that you fancy in fact following so let’s see possibly we desire someone from unified kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a good quantity and i can find everyone who has fulfilled that criteria and it does give you a danger aspect too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a variety of people that have quite high returns
keep in mind it’s like anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to ensure 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 validate are you okay with this and off you go now another method to really deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she actually 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 little bit so that’s good to understand ibm paypal yep she’s definitely 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 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 also got a little bit more um of the sort of main food business and you’ve got you know pharmaceutical and production business as that. Robinhood App We Could Not Approve Your Application.
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