Not really having the full amount of capital…Bitboy Raoul Pal… so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you in fact get utilized to the structure of the website and after that when you’re ready to utilize 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 buying real companies if you select 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 threat and we need to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row purchase these options because you think is the best ones for you which being said let’s dive directly 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 amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for example 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 likewise cover is the costs included really important you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 websites then may not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 before you actually begin buying copy trading or copy portfolios and finally some finest advice 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 fees actually important to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling fine so commission fees are free however there are a number of other costs the very first one is withdrawal charges so you can obviously put money in now if you remain 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 on however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure 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 need to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms certainly are complimentary 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 as soon as every six months you know depends totally how you’re investing however that is a charge to keep in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits 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 use anyone so if you’re using trading two and 2 free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 state offer me us dollars instead you have to pay their charges now the terrific feature of though when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site won’t certainly limit you in any way however we have to know two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Raoul Pal.
You are given numerous options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not understand which system to choose, then this may be precisely what you require.