Not actually having the total of capital…Bitboy Luna… 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 use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row purchase 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 things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing unbelievable 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 implies with our money we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally 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 financial 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 really crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge sites then may not charge you for really buying and selling funds or etfs specific commodities specific 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 costs with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges really important to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling alright so commission charges are totally 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’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those options that they have a lot of platforms undoubtedly are complimentary 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 cost to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have 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 offering 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 state give me us dollars instead you have to pay their costs now the fantastic aspect of however when you have actually transformed your cash you do not need 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 preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other charges the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Luna.
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