Not really having the full amount of capital…Bitboy Washington Post… so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also 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 obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually said they’ve made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 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 charges included actually important 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 included and even a few of the zero cost sites then may not charge you for actually buying and selling funds or etfs private products individual stocks.
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 show you the charges with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really crucial to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission fees are free nevertheless there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re 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 however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those options that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a fee to remember the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps 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 two and two free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 instead you have to pay their costs now the great aspect of though when you’ve transformed your money you do not need 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 preliminary day that you buy 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 truly great utilizing that part of their site won’t definitely limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Bitboy Washington Post.
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