Not actually having the full amount of capital…Bitboy Nashville Meetup… so with anything that you’re finding out 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 play around with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you select to in this specific 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 have to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row invest in these options since you think is the best ones for you and that being said let’s dive straight 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 aspect that is probably.
well-known for it’s the option to see what other traders are doing unbelievable 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 implies with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for instance 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 critical you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then might not charge you for actually buying and selling funds or etfs individual products 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 charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges really important to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling alright so commission costs are totally free however there are a couple of other costs the very first one is withdrawal fees so you can clearly 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 wish to withdraw your money so you offer your shares you offer your products 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of those options that they have a lot of platforms certainly 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 six months you understand depends entirely how you’re investing but that is a charge to remember the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have 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 actually offering 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 instead you need to pay their charges now the fantastic feature of though when you’ve transformed your cash you do not have 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 transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site won’t certainly restrict you in any way nevertheless we need to know 2 other charges the very first being what’s called spread fees fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Nashville Meetup.
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