Not really having the total of capital…Bitboy Shiba Inu… 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 now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually stated they have actually made revenue 14 months in a row purchase these options because you believe is the right ones for you which 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 belongs to social trading which is one aspect that is most likely.
famous 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 implies with our money we can really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they buy they sell 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 costs involved actually crucial you understand what are the expenses of this now with any platform there will be some expense to obviously 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 some of the absolutely no fee sites then might not charge you for actually buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 really start purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with fees truly essential to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission charges are complimentary nevertheless there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state fine 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 someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a charge to remember the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even 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 utilizing trading two and two open market anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they really giving you in terms of 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 say give me us dollars rather you have to pay their fees now the fantastic aspect of however when you have actually transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 fees so that’s actually great using that part of their site won’t definitely restrict you in any way however we have to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Bitboy Shiba Inu.
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