Not actually having the full amount of capital…Bitboy Dogecoin… 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 use 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 really get utilized to the structure of the website and after that 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 investing in genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row buy these options because you believe is the right ones for you and that being said let’s dive straight in [Music] 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 element that is probably.
popular for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be imitated 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 also cover is the fees involved truly important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for actually buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees really essential to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission charges are totally free however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you offer your products 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 understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms certainly are free to do such things has this 5 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 but that is a cost to remember the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and 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 standard they have actually i expect stuck with whatever cost 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 charge is there what are they actually providing you in regards to 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 instead you need to pay their costs now the great feature of however when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 additional fees so that’s truly good using that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Dogecoin.
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