On this post you’ll find the answer to Summit Trading Platform….Questions that i hear from new investors what if you’re brand new to investing you simply do not wish to choose what you actually want to invest and you desire someone to do it for you there’s just a couple of ways that that can happen the to start with you can employ an investment portfolio manager they’ll typically charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously 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 as well now if you’re brand new to a total please keep in mind this platform is quite sophisticated 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 learning about please do study the platform don’t just presume since 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 consider that option also 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 of course your capital is at threat this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has actually said they have actually made revenue 14 months in a row purchase these options since 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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well-known for it’s the choice 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 indicates with our money we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 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 charges involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine 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 absolutely no fee sites then may not charge you for really 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 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 understand prior to you in fact begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges actually important to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a number of other fees the first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk cash.
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and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell 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 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say alright that’s quite expensive 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 just one of those choices that they have a lot of platforms obviously are free 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 know depends totally how you’re investing however that is a fee to remember the second fee that i’ve touched upon is that conversion cost 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 lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they actually giving you in regards to 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 rather you need to pay their fees now the great aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great using that part of their website won’t definitely limit you in any way nevertheless we need to understand two other fees the first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you
on is generally the distinction that becomes part of the financial investment platform between the buy rate and the sale price alright it’s their premium on doing both those two 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 actually implies that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the current rate of tesla is the value of a share what’s called spread costs is the distinction then in fact to buy that share on the platform and you’ll find this all over this is another manner in which 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 expensive to purchase than it is to sell so they’re going to give you less back with your sale and you say alright well why does that happen it just does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you want to sell it which is how they make a little bit of cash on those spread out costs it’s normally extremely small it could be a matter of pens matter of cents in there however that’s one location every investment company will once again make a bit money now the last feat is called an
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overnight fee now this is truly crucial if you’re in fact using cfds yourself as well an over night cost is when you’re refraining from doing that buy sell transaction in the exact same day okay there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which implies you’re in fact purchasing the specific possession instead of utilizing leverage anyway you will not get hit with these charges however these fees are if you’re utilizing take advantage of 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 assistance area this isn’t the overnight fees details you can see precisely the breakdown and it’ll tell 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 stated to cfds there are some added fees naturally 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 assistance info fine and we talked about in addition to complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i’ve said copy trading and copy portfolios are two various ways of really using these copy functions they do not have any additional fees on top of the normal fees that
are there now what you require to keep in mind though is these possibly handled by other people totally or sometimes have created portfolios you have actually got a genuine person doing the management you need to make sure you select the individual that’s right for you much like any line of work this is your monetary assets so we definitely require to make certain 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’ve got a couple of different options for us to start with if you’re brand new to investing i want 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 money that you’re investing you won’t require to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is an excellent option for you again to check the theories fine you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it undoubtedly you might have lost out on gains and losses throughout that time obviously if you had actually invested your genuine cash it enables you to develop confidence comprehend the platform so that’s one choice for you then next week and i’m going to return 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 remember before you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i imply 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 just suggests am i all right with possibly losing a good amount of this investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose cash but that similarly means they’ll lose at some point in their journey undoubtedly individuals do make money also and i’ve got videos everything about how you can make sure you are among individuals to actually make money however in this scenario make certain you research your danger level would you be alright offering your money to somebody else which is successfully what you’re doing and trusting them make sure you understand what they’re buying fully if you’re somebody who isn’t wanting to be that dangerous don’t pick someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can really utilize this too really easily over here you can copy people now it will give you a great deal of options and you can utilize the system to in fact look for someone that you fancy in fact following so let’s see perhaps we want somebody from united kingdom um who buys let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can discover everybody who has met that requirements and it does provide you a danger factor as well so it tends to be the higher 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’s like anything to do with the news or predictions of the future this does not indicate someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to confirm are you all right with this and off you go now another way to actually 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 buying 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 certainly like type of into those blue box and the tech market she’s got a few of mine actually that i invest in too which is excellent so actually for me understanding what i like to buy my specific 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 type of primary food companies and you’ve got you know pharmaceutical and production companies as that. Summit Trading Platform.
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