Not really having the full amount of capital…Elon Musk Vitalik Buterin Twitter… so with anything that you’re discovering please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously 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 talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you and that being said 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.
popular for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 charges included actually critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost sites then may not charge you for really buying and selling funds or etfs private products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with charges really important to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission costs are complimentary however there are a couple of other fees the first one is withdrawal charges 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 offer 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 five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those choices that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing however that is a cost to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really giving 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 say give me us dollars instead you need to pay their fees now the excellent aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really great utilizing that part of their website won’t definitely restrict you in any way however we have to know 2 other costs the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Elon Musk Vitalik Buterin Twitter.
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