On this post you’ll find the answer to Todd Harrison Best Trading Platforms….Questions that i speak with new financiers what if you’re brand new to investing you merely don’t want to choose what you really want to invest and you desire somebody to do it for you there’s only a couple of manner ins which that can occur the first off you can hire an investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can buy 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 an overall 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 actually having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply 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 really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they’ve made revenue 14 months in a row invest in these options since you think is the right ones for you which being said 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 aspect that is most likely.
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popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they buy they sell whatever they do your cash 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 money in so we’re going to also cover is the costs included really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 no fee sites then might not charge you for really buying and selling funds or etfs specific commodities specific stocks.
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there’ll be fees on other parts perhaps 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 charges with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling all right so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your money so you offer your shares you sell 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing however that is a fee to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they actually 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 give me us dollars instead you have to pay their charges now the fantastic feature of however when you’ve converted your money you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial 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 fees so that’s really good using that part of their website won’t certainly restrict you in any way however we need to know two other costs the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread cost as i’m going to reveal you
on is generally the distinction that is part of the investment platform between the buy cost and the price okay 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 suggests that when you wish to offer or buy as you can see it’s not the price you’re seeing up here let me show you that once again so the present rate of tesla is the value of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state okay well why does that occur 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 wish to offer it and that is how they make a bit of money on those spread out costs it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a bit money now the last feat is called an
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overnight charge now this is actually important if you’re in fact using cfds yourself too an overnight cost is when you’re not doing that buy sell deal in the exact same day okay there’s then an over night fee charged and even if you go from the friday to the monday prior to cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which means you’re really buying the precise property rather than using utilize anyway you will not get hit with these fees however these costs are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the help area this isn’t the over night charges information you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only applies as i stated to cfds there are some surcharges obviously depending upon what you are buying also this is on your own so keep that in mind but complete fees are completely within their assistance information fine and we spoke about in addition to free to deposit in however 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 five dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two different methods of really using these copy functions they do not have any additional fees on top of the normal charges that
are there now what you need to keep in mind though is these potentially managed by other people totally or sometimes have created portfolios you’ve got a real person doing the management you have to ensure you choose the person that’s right for you much like any kind of work this is your financial properties so we definitely require to ensure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to use this function we have actually got a couple of various choices for us firstly if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun 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 mimic as if you are using your own cash but really buy pretend buy copy people 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 okay you may want to purchase tesla or apple or this etf why not utilize the virtual choice as a method to type of safe play with it certainly you may have missed out on gains and losses during that time of course if you had actually invested your real money it enables you to develop self-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 select somebody 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 imply by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of simply suggests am i all right with possibly losing a great amount of this investment or getting as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money but that similarly indicates they’ll lose eventually in their journey certainly people do generate income also and i have actually got videos everything about how you can make sure you are among the people to actually make money however in this scenario make certain you research your risk level would you be okay giving your cash to someone else which is successfully what you’re doing and trusting them ensure you comprehend what they’re purchasing totally if you’re someone who isn’t wanting to be that risky do not choose someone who’s entirely into crypto or currency conversion think of it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can actually utilize this too truly easily over here you can copy individuals now it will provide you a great deal of choices and you can use the system to actually look for someone that you fancy in fact following so let’s see possibly we desire somebody from joined kingdom um who buys let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has actually fulfilled that criteria and it does offer you a danger factor too so it tends to be the higher the number the more riskier they are with their stock investing now clearly there are a number of individuals that have rather 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 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another way to in fact deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s good to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is excellent so really for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s also got a bit more um of the sort of main food companies and you have actually got you know pharmaceutical and production business as that. Todd Harrison Best Trading Platforms.
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