Not really having the full amount of capital…Bitboy Nashville Meetup… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you actually get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the best ones for you and that being stated let’s dive straight 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 aspect that is probably.
popular 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 therefore that means with our money we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for instance 10 of their 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 included really crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 charge websites then may not charge you for actually buying and selling etfs or funds private 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 kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with charges actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees so you can clearly put money in now if you remain 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 later but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state okay 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 fees are simply one of those choices that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a charge to keep in mind the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i suppose stuck to whatever charge 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 in fact 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 say give me us dollars rather you have to pay their costs now the fantastic feature of though when you have actually transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their website won’t certainly limit you in any way however we need to be aware of two other costs the first being what’s called spread charges fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Nashville Meetup.
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