Not in fact having the total of capital…Bboy Phantom… so with anything that you’re learning more about please do study the platform do not just presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get utilized 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 naturally your capital is at danger this is investing we’re doing you’re buying real business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row buy these choices because you think is the ideal ones for you which being stated let’s dive straight in [Music] so the 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 probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really say i want to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money 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 cash in so we’re going to also cover is the fees included actually important you understand what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then may not charge you for in fact buying and selling funds or etfs private products individual stocks.
there’ll be charges 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 reveal 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 guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly crucial to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission costs are complimentary however there are a number of other charges the first one is withdrawal fees so you can certainly 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 later on but when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 sure that i’m just withdrawing when i absolutely need to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends entirely how you’re investing however that is a cost to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they really offering 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 provide me us dollars rather you have to pay their costs now the fantastic thing about however when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their site will not certainly restrict you in any way nevertheless we have to understand 2 other fees the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to show you Bboy Phantom.
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