Not actually having the full amount of capital…Bitboy Nucypher… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you really get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually said they’ve made profit 14 months in a row invest in these options due to the fact that you think is the best 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 probably.
popular for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real 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 cost sites then may not charge you for actually buying and selling funds or etfs specific commodities private stocks.
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 kinds of costs 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 know before you actually begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly important to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling okay so commission charges are free however there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you understand depends completely how you’re investing however that is a cost to remember the 2nd charge that i’ve discussed 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 fine that fits me.
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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually giving 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 provide me us dollars instead you need to pay their charges now the fantastic aspect of though when you have actually 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 means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their website will not certainly limit you in any way nevertheless we need to know two other costs the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Nucypher.
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