Not actually having the total of capital…Big Red Jacks Review… so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you really get used 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 risk this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they have actually made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being said let’s dive straight in [Music] so 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.
well-known for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for example 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 also cover is the costs involved actually vital you comprehend what are the costs 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 zero fee websites then might not charge you for actually buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand before you in fact start purchasing copy trading or copy portfolios and lastly some finest recommendations 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 charges actually essential to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a number of other costs the very first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum amount 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 need to now you might state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those options that they have a great deal of platforms undoubtedly are totally free 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 once every 6 months you know depends totally how you’re investing however that is a charge to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase 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 or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 open market anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 state give me us dollars instead you have to pay their fees now the fantastic thing about though when you’ve converted your cash you do not have to invest it right away 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 buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their site will not definitely limit you in any way however we have to understand 2 other charges the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Big Red Jacks Review.
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