Not in fact having the total of capital…Will Elon Musk Be The World\’s First Trillionaire… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really get used 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 purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row purchase these choices because you believe is the ideal ones for you and that being said 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 most likely.
popular for it’s the option to see what other traders are doing extraordinary we do not typically 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 cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and generally 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 instance 10 of their financial 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 fees involved actually important you understand what are the costs of this now with any platform there will be some expense to clearly 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 absolutely no fee sites then may not charge you for actually buying and selling funds or etfs individual products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 know prior to you actually start investing in copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really crucial to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling all right so commission costs are totally free however there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you sell 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a fee to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 free trade anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they really providing 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 costs now the terrific thing about however when you’ve transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great using that part of their website will not certainly restrict you in any way however we have to know two other fees the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Will Elon Musk Be The World\’s First Trillionaire.
You are provided numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this might be exactly what you need.