Not really having the full amount of capital…Bitboy Raoul Pal… so with anything that you’re discovering please do study the platform don’t just presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for example 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 likewise cover is the charges involved really critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be charges on other parts maybe 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 costs with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling all right so commission charges are complimentary however there are a couple of other costs the very first one is withdrawal charges so you can clearly put money in now if you remain 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 but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a fee to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 offer me us dollars rather you have to pay their charges now the fantastic thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their site will not certainly restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Raoul Pal.
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