Not really having the full amount of capital…Bitboy Green Dot… so with anything that you’re learning more about please do study the platform don’t simply presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you in fact 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 of course your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row buy these choices because you believe is the ideal ones for you and that being stated let’s dive directly 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 probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t usually 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 money we can really state i want to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial 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 charges involved truly critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 a few of the zero fee sites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 understand before you in fact start investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually crucial to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission fees are free however there are a number of other charges the very 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 automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those options that they have a great deal of platforms certainly are free to do such things has this five 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 completely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually offering you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their costs now the great aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or convert 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 good using that part of their site won’t certainly restrict you in any way nevertheless we have to know two other charges the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bitboy Green Dot.
In general, traders who use EToro in Trading 212 will discover it to be among the very best and easiest platforms to use. You are offered lots of alternatives with this software application and you can configure it however you please. This makes it very flexible and user friendly. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to start trading the forex market however don’t know which system to select, then this may be exactly what you need.