Not in fact having the full amount of capital…Big Red Jack Not Working… so with anything that you’re learning about please do study the platform do not simply assume since i use 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 choice too so you really get used to the structure of the site and then 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 real business if you select to in this particular video we’re talking about how to copy other people’s financial 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 person has said they’ve made earnings 14 months in a row purchase these choices because you think is the ideal 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’s part of social trading which is one aspect that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit 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 specific portfolio of options and basically every time they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests 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 likewise cover is the charges included actually important you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for actually buying and selling funds or etfs private products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually important to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling fine so commission fees are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling 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 ensure that i’m only withdrawing when i absolutely require to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely 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 fee to remember the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and say provide me us dollars rather you have to pay their fees now the excellent thing about however when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good using that part of their site will not definitely limit you in any way however we need to know 2 other charges the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Big Red Jack Not Working.
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