On this post you’ll find the answer to Worst Trading Broker Platforms….Questions that i hear from new financiers what if you’re brand new to investing you just don’t want to choose what you in fact want to invest and you desire somebody to do it for you there’s only a number of manner ins which that can take place the first of all you can work with a financial investment portfolio manager they’ll typically charge a quite a high premium to do that maybe one or two percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are developed 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 too now if you’re brand new to a total please keep in mind this platform is rather sophisticated you can do cfds which obviously cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you really get used to the structure of the site and then when you’re ready to use 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 buying genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row buy these options due to the fact that you think is the right 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 becomes part of social trading which is one aspect that is probably.
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famous for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business 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 sites then may not charge you for really buying and selling etfs or funds private products private stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with charges really crucial to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission fees are free however there are a couple of other charges the first one is withdrawal costs so you can undoubtedly 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 but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering 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 only withdrawing when i absolutely require to now you may say alright that’s quite costly 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 one of those alternatives that they have a great deal 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 maybe even once a year once every six months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really providing you in terms of 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 give me us dollars instead you have to pay their costs now the great thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent utilizing that part of their site won’t definitely restrict you in any way however we need to be aware of two other costs the first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you
on is generally the difference that becomes part of the financial investment platform in between the buy price and the list price okay 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 really means that when you wish to purchase or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing rate of tesla is the value of a share what’s called spread fees is the distinction then really to buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of make money from you each time you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to buy than it is to offer so they’re going to provide you less back with your sale and you say okay 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 sell it which is how they make a little bit of cash on those spread fees it’s usually incredibly small it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit cash now the last accomplishment is called an
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over night cost now this is really important if you’re really using cfds yourself too an over night cost is when you’re refraining from doing that buy sell deal in the very same day fine there’s then an over night charge charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re actually buying out the etf the stock the product and using time one leverage which indicates you’re in fact buying the exact asset rather than utilizing leverage anyhow you won’t get hit with these fees but these charges are if you’re utilizing take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s say if you enter into the assistance section this isn’t the overnight costs info you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just uses as i stated to cfds there are some surcharges naturally depending on what you are buying as well this is on your own so keep that in mind but complete charges are entirely within their help details fine and we discussed in addition to 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 everything there’s that five dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 various methods of in fact using these copy functions they do not have any additional costs on top of the typical fees that
exist now what you need to keep in mind though is these potentially managed by other people entirely or in some cases have actually created portfolios you have actually got a genuine person doing the management you have to make certain you pick the person that’s right for you just like any line of work this is your monetary 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 wish to utilize this function we’ve got a number of different alternatives for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual methods 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 need to put in your charge card details or anything you can basically have this virtual portfolio simulate 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 comfortable with using your real money maybe this is a great option for you again to check the theories alright you might want to buy tesla or apple or this etf why not use 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 obviously if you had actually invested your real cash it allows you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals 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 make certain you comprehend what your threat 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 run the risk of just indicates am i okay with possibly losing a good amount of this investment or getting as
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well now keep in mind everything is ups and downs you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly implies they’ll lose at some time in their journey certainly people do earn money as well and i’ve got videos all about how you can make certain you’re one of individuals to actually generate income however in this situation make certain you research your danger level would you be fine providing your cash to another person which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous don’t choose somebody who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong products
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like gold or perhaps oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can really use this too truly quickly over here you can copy people now it will offer you a lot of choices and you can use the system to in fact search for somebody that you fancy actually following so let’s see possibly we want someone from united kingdom um who buys let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has actually fulfilled that criteria and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have rather high returns
bear in mind it resembles 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 might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to validate are you alright with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact purchasing 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 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 excellent 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 seems to be what she chooses she’s likewise got a little bit more um of the kind of primary food companies and you’ve got you know pharmaceutical and production business as that. Worst Trading Broker Platforms.
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