Not actually having the full amount of capital…Is Elon Musk In Transcendence… so with anything that you’re discovering please do study the platform do not simply presume since i utilize 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 really get used to the structure of the site 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 buying real companies if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at danger 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 invest in these choices since you believe is the ideal ones for you which being said let’s dive directly 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 alternative to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your money will be simulated 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 cash in so we’re going to likewise cover is the charges included really 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 purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then might not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with costs truly important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission charges are totally free however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 however when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms undoubtedly are complimentary 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 6 months you know depends completely how you’re investing however that is a fee to bear in mind the second cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great 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 great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving 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 state give me us dollars instead you have to pay their charges now the excellent feature of however when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their site will not certainly restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Is Elon Musk In Transcendence.
You are given lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this might be exactly what you require.