Not really having the full amount of capital…Bitboy Meme… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously 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 individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row buy these options since you believe is the right ones for you and that being said let’s dive directly 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 most likely.
popular for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you in fact start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually important to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money 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 certain that i’m just withdrawing when i absolutely need to now you might state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those options that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually giving 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 offer me us dollars instead you have to pay their fees now the great feature of though when you’ve transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site won’t certainly restrict you in any way nevertheless we need to know two other costs the first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Bitboy Meme.
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