Not actually having the total of capital…Justin Bieber… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually get used to the structure of the site and after that when you’re ready to utilize 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 pick to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has stated they have actually made revenue 14 months in a row purchase these options because you think is the right ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending 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 alternative to see what other traders are doing unbelievable we do not normally 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 cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies 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 in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand prior to you actually begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling all right so commission costs are totally free however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly 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 in the future however when you wish to withdraw your cash so you sell 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying 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 utilizing trading two and two free trade anyone at all this is basic they have actually i suppose stuck to whatever fee 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 fee exists what are they in fact providing 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 offer me us dollars rather you have to pay their costs now the fantastic feature of though when you have actually converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates 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 extra costs so that’s really great using that part of their website will not definitely restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Justin Bieber.
You are provided lots of options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this may be exactly what you need.