Not in fact having the total of capital…Bitboy Shiba Inu… so with anything that you’re learning more about please do study the platform don’t simply assume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these options because you believe is the best 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 becomes part of social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing incredible we do not usually get that insight from a great deal 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 want to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash 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 also cover is the charges involved really important you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then might not charge you for in fact buying and selling funds or etfs private products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges actually important to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling all right so commission fees are complimentary however there are a number of other charges the first one is withdrawal costs so you can certainly put money 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 offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those options 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 mainly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a charge to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that matches 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 utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really providing 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 say offer me us dollars instead you have to pay their costs now the terrific thing about however when you’ve converted your money you do not need to invest it right away that dollar worth can being in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their website won’t certainly restrict you in any way however we need to know two other costs the very first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Bitboy Shiba Inu.
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