Find the answer to Bitifinex Vs Etoro….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just do not want to decide what you really want to invest and you desire someone to do it for you there’s only a couple of ways that that can occur the firstly you can work with an investment portfolio supervisor they’ll normally 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 naturally you can buy mutual funds particular funds are produced again with an account supervisor 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 bear in mind this platform is quite advanced you can do cfds which obviously cfds are ways of investing
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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform do not simply presume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made profit 14 months in a row purchase these choices since you believe is the best ones for you which being stated 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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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 advantage is these copy portfolios are copy trading and so that implies with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their 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 involved actually critical you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for really buying and selling funds or etfs private products individual stocks.
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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 really start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with fees truly essential to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling okay so commission costs are complimentary however there are a number of other charges the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.
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and it’s immediately 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 offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s great 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 great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i expect stuck to whatever cost 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 cost exists what are they in fact 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 state give me us dollars rather you have to pay their fees now the terrific aspect of however when you have actually converted your cash you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means 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 good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to understand two other charges the first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is essentially the difference that is part of the financial investment platform between the buy rate and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that really suggests that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread charges is the difference then actually to buy that share on the platform and you’ll find this all over this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you say all right well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a little bit of money on those spread 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 firm will again make a bit cash now the last task is called an
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over night cost now this is truly essential if you’re really utilizing cfds yourself as well an overnight fee is when you’re not doing that buy offer transaction in the very same day fine 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 just applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one utilize which suggests you’re in fact buying the exact property rather than using take advantage of anyhow you will not get hit with these charges however these fees are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s state if you go into the help area this isn’t the overnight charges info you can see exactly 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 which just 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 but complete costs are entirely within their assistance information okay and we spoke about along with totally free to deposit in however there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal 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 2 various methods of in fact using these copy works they don’t have any additional fees on top of the normal charges that
exist now what you require to remember though is these possibly handled by other people totally or often have actually created portfolios you have actually got a real person doing the management you need to make sure you select the person that’s right for you much like any kind of work this is your financial properties so we absolutely require to make certain it’s the right person 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 alternatives for us first of all 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 believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio simulate as if you are using your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money possibly this is a great option for you once again to evaluate the theories fine you may want to buy tesla or apple or this etf why not use the virtual option as a way to sort of safe play with it obviously you might have lost out on gains and losses during that time of course if you had invested your genuine cash it enables you to construct self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy people and copy portfolios now here’s something to remember prior to you pick somebody 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 suggest 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 suggests am i okay with potentially losing a good amount of this investment or getting 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 people will lose cash however that similarly suggests they’ll lose eventually in their journey certainly individuals do make money too and i’ve got videos all about how you can make sure you’re one of individuals to actually make money however in this scenario make sure you research your risk level would you be fine giving your cash to somebody else which is effectively what you’re doing and trusting them make certain you understand what they’re buying completely if you’re someone who isn’t wanting to be that risky don’t pick someone who’s totally into crypto or currency conversion consider it you ‘d most likely want a foundation of strong commodities
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like gold or even oil plus more traditional 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 state you can in fact utilize this too truly quickly over here you can copy people now it will give you a lot of options and you can utilize the system to actually search for somebody that you expensive actually following so let’s see perhaps we desire somebody from united kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everybody who has actually met that requirements and it does offer you a danger element too 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
keep in mind it resembles anything to do with the news or forecasts 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 way to ensure 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 alright with this and off you go now another method to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she really buying 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 excellent to understand ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is excellent so really for me knowing what i like to invest in my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the kind of main food companies and you’ve got you understand pharmaceutical and production companies as that. Bitifinex Vs Etoro.
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