Not actually having the total of capital…Who Has An Iq Higher Than Einstein… so with anything that you’re learning about please do study the platform do not simply presume because i use 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 option also so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has actually stated they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being stated let’s dive straight in [Music] so the important 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.
popular for it’s the alternative to see what other traders are doing incredible 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 suggests with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for example 10 of their financial 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 charges involved really critical you understand what are the costs of this now with any platform there will be some cost to certainly these are real 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 charge sites then might not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you actually begin buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges truly crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly put cash in now if you’re 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 later on however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling 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 make sure that i’m only withdrawing when i absolutely need to now you may say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a fee to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even 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 anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually giving you in terms of 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 provide me us dollars instead you need to pay their fees now the fantastic aspect of however when you have actually converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent using that part of their site won’t certainly limit you in any way however we have to be aware of two other charges the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Who Has An Iq Higher Than Einstein.
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