Not in fact having the full amount of capital…Big Boy Jeans… so with anything that you’re learning about please do study the platform do not simply assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you really get used 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 purchasing genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they have actually made revenue 14 months in a row buy these choices since you think is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t 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 money we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for instance 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 critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then may not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 before you actually start investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees really important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission fees are complimentary nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s instantly 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 sell your shares you sell your commodities 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 make certain that i’m only withdrawing when i absolutely need to now you may say okay that’s rather costly 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 undoubtedly are totally free 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 once every six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anybody this is basic they have actually i expect 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 charge is there what are they in fact 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 say provide me us dollars instead you need to pay their fees now the fantastic feature of however when you have actually converted your money you do not need to invest it right now that dollar value can being 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 takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their website won’t certainly restrict you in any way however we need to know two other fees the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread fee as i’m going to show you Big Boy Jeans.
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