Not actually having the full amount of capital…Bittboy J2Me… so with anything that you’re learning about 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 play around with it even invest with virtual money they give that option as well so you in fact get utilized to the structure of the site and then when you’re ready to use 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 investing in real business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row buy these options since you think is the ideal ones for you and that being stated 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.
well-known for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for instance 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 charges included truly crucial 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 purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for really buying and selling funds or etfs individual commodities private 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 reveal you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges really essential to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you offer your products 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those alternatives that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there 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 say provide me us dollars instead you need to pay their costs now the excellent aspect of however when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bittboy J2Me.
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