Not really having the full amount of capital…Bitboy Luna… so with anything that you’re discovering please do study the platform do not simply 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 cash they consider that alternative also so you actually get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row purchase these options since you believe is the ideal 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 belongs to social trading which is one element that is probably.
famous for it’s the option to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be simulated 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 cash in so we’re going to also cover is the costs involved really crucial 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 purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 actually begin buying copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really essential to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling fine so commission costs are free however there are a couple of other charges the very first one is withdrawal fees so you can obviously put cash 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 want to withdraw your cash so you sell your shares you offer 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that fits 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 great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 say give me us dollars instead you need to pay their charges now the great aspect of however when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site will not definitely restrict you in any way however we need to be aware of two other costs the very first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bitboy Luna.
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