Not really having the total of capital…Is There An Age Limit For Goodrx… so with anything that you’re learning about please do study the platform don’t simply presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you in fact get used 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 threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually said they have actually made revenue 14 months in a row buy these options due to the fact that you believe is the right ones for you which being stated let’s dive straight in [Music] The 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 probably.
popular for it’s the option to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means 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 each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs individual products 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 costs 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 before you in fact start purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with charges really 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 fees are totally free however there are a number of other costs the first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain 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 costs someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends completely how you’re investing but that is a cost to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact 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 state offer me us dollars rather you need to pay their fees now the terrific thing about though when you’ve transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial 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 extra fees so that’s truly good utilizing that part of their site will not definitely restrict you in any way however we have to know 2 other costs the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to show you Is There An Age Limit For Goodrx.
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