Not really having the full amount of capital…Bitboy Elrond… so with anything that you’re finding out about please do study the platform don’t just assume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row invest in 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests 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 fees involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to clearly 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 some of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with fees actually essential to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling okay so commission costs are complimentary however there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you offer 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 certain that i’m just withdrawing when i definitely require to now you may say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those choices that they have a lot of platforms certainly are totally free 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 as soon as every 6 months you understand depends completely how you’re investing but that is a charge to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars only 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 anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists 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 state offer me us dollars instead you need to pay their costs now the great aspect of however when you have actually converted your money you do not need to invest it immediately 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 purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website will not certainly restrict you in any way nevertheless we need to understand 2 other charges the first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Bitboy Elrond.
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