Not actually having the full amount of capital…Zachxbt Bitboy… so with anything that you’re learning more about please do study the platform don’t just presume because 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 consider that option too so you in fact get used to the structure of the site and after that when you’re ready to utilize 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 buying genuine business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the best ones for you which being said let’s dive straight in [Music] so 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 most likely.
well-known for it’s the choice to see what other traders are doing amazing we don’t usually 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 actually state i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial 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 crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts possibly 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 show you the costs with in particular in this video the next would be things to know prior to you in fact begin purchasing copy trading or copy portfolios and lastly some finest recommendations 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 fees actually crucial to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling all right so commission costs are complimentary however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you sell your products 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends entirely how you’re investing however that is a fee to remember the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really offering you in regards to 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 rather you have to pay their fees now the great aspect of however when you have actually converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 extra charges so that’s actually good using that part of their site will not certainly limit you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Zachxbt Bitboy.
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