Not in fact having the full amount of capital…Vitalik Father… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real business if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row purchase these choices since you think is the best ones for you which being said let’s dive straight 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 becomes part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included actually important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then may not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know prior to you in fact begin investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling all right so commission charges are totally free nevertheless there are a number of other costs the very first one is withdrawal fees so you can clearly put cash in now if you remain 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 in the future but when you want to withdraw your money 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 five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a charge to remember the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy 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 buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there 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 state offer me us dollars instead you need to pay their fees now the great feature of however when you’ve transformed your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert 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 excellent utilizing that part of their site won’t certainly restrict you in any way however we need to be aware of two other fees the first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Vitalik Father.
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