Not in fact having the full amount of capital…Bitboy Suing Celsius… so with anything that you’re learning more about please do study the platform do not simply presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row buy these options due to the fact that you believe is the best ones for you which being said let’s dive straight in [Music] so the important 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 probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved actually important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may 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 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 know before you actually start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually essential to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission fees are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can undoubtedly 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 on but when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum quantity 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 just withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those choices that they have a lot of platforms clearly are totally 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 as soon as every six months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 give me us dollars rather you have to pay their fees now the terrific feature of however when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good using that part of their site will not certainly limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Suing Celsius.
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