Not actually having the full amount of capital…Bitboy Wife… so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you choose 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 threat and we need to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row buy these choices because you think is the ideal ones for you which being stated let’s dive directly in [Music] so the important 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 element that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not usually 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 money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually crucial you understand 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 zero cost websites then might not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can certainly put money in now if you remain 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 but when you wish to withdraw your money so you sell your shares you sell your commodities 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 understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just among those options that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a cost to remember the 2nd charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’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 excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually offering 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 give me us dollars rather you need to pay their costs now the great aspect of though when you have actually 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 indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their website won’t certainly limit you in any way however we need to understand two other costs the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Bitboy Wife.
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