Not in fact having the full amount of capital…Tj Bitboy Crypto Twitter… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you really get used to the structure of the site and after that 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 buying genuine companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually stated they have actually made profit 14 months in a row buy these options since you believe is the right ones for you and that being stated 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 probably.
famous for it’s the alternative 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 therefore that implies with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included really vital you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for really buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges actually important to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling okay so commission costs are totally free however there are a number of other charges the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you offer your shares you sell your commodities 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 of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state fine that’s quite 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 costs are just one of those choices that they have a great deal of platforms undoubtedly are complimentary 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 6 months you understand depends completely how you’re investing however that is a charge to bear in mind the 2nd charge that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits 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 great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee 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 offer me us dollars instead you have to pay their fees now the terrific feature of however when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy 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 great utilizing that part of their site 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 reveal you what i imply on now a spread fee as i’m going to reveal you Tj Bitboy Crypto Twitter.
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