Not in fact having the total of capital…Bitboy On Fox Business… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you really get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need 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 options because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] so the important 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 element that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included really critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine 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 no charge sites then may not charge you for in fact buying and selling etfs or funds private products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really essential to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission charges are complimentary however there are a couple of other costs the first one is withdrawal fees so you can clearly 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 later but when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those choices that they have a great deal of platforms clearly are complimentary 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 as soon as every 6 months you understand depends completely how you’re investing but that is a cost to remember the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or 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 2 and 2 open market anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact 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 say offer me us dollars rather you have to pay their fees now the great feature of though when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their site will not certainly limit you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy On Fox Business.
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