Not in fact having the full amount of capital…What Is The Smartest Iq In The World… so with anything that you’re discovering please do study the platform do not just presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you really get utilized 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 threat this is investing we’re doing you’re buying real business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row invest in these options since you believe is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not generally 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 cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they sell 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 money in so we’re going to likewise cover is the costs involved actually important you understand what are the costs of this now with any platform there will be some cost to obviously these are real companies 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 charge sites then may not charge you for in fact buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 charges 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 finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with charges actually essential to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling all right so commission costs are totally free nevertheless there are a number of other charges the first one is withdrawal charges so you can undoubtedly put cash 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 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 quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just one of those alternatives 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 largely it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and two open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact offering you in terms of 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 give me us dollars rather you have to pay their fees now the fantastic feature of however when you’ve converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 extra charges so that’s really great using that part of their website won’t certainly limit you in any way however we need to be aware of 2 other charges the first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you What Is The Smartest Iq In The World.
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