Not really having the total of capital…Bboy Phantom… so with anything that you’re learning more about please do study the platform do not simply 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 cash they consider that option also so you actually get used to the structure of the website 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 purchasing genuine 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 certainly your capital is at danger and we have to bear that in mind do not simply do something because that person has said they’ve made profit 14 months in a row purchase these options because you believe is the ideal 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 element that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so 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 alternatives and generally every time they make a trade they purchase they sell whatever they do your money will be imitated 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 costs included actually critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real business 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 zero cost sites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really essential to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission fees are totally free however there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you sell your commodities 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 understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state alright that’s quite expensive 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 just one of those options that they have a great deal of platforms obviously are free 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 as soon as every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
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 use anybody so if you’re utilizing trading two and two open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need 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 giving 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 say offer me us dollars instead you need to pay their fees now the terrific aspect of though when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using 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 fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bboy Phantom.
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