Not actually having the full amount of capital…Bit Boy Job… so with anything that you’re learning about please do study the platform do not just presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you in fact get used to the structure of the site and then 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 real business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row invest in these choices due to the fact that you believe is the best ones for you and that being said let’s dive straight 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.
popular for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means 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 important you comprehend what are the expenses of this now with any platform there will be some expense to obviously 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 fee sites then might not charge you for in fact buying and selling etfs or funds private products specific 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 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 prior to you really start investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with costs truly important to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission costs are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s instantly 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 sell 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 knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you may state all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those options that they have a lot of platforms certainly 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 when every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they really providing 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 say give me us dollars rather you have to pay their costs now the fantastic thing about though when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 extra charges so that’s truly good utilizing that part of their site will not definitely limit you in any way nevertheless we have to know two other charges the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Bit Boy Job.
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