Not actually having the full amount of capital…Bboy Phantom… so with anything that you’re learning about please do study the platform do not just presume because 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 give that option also so you actually get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row invest in these choices since 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 most likely.
popular for it’s the choice to see what other traders are doing amazing 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 really say 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 imitated 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 likewise cover is the fees involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 no charge sites then might not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 know before you really begin buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees truly essential to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can certainly 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 on however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually providing 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 need to pay their fees now the fantastic feature of though when you have actually transformed your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good utilizing that part of their site won’t certainly limit you in any way however we need to be aware of two other fees the first being what’s called spread charges all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Bboy Phantom.
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