Not actually having the total of capital…Bitly Holdings… so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you actually get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has stated they’ve made earnings 14 months in a row purchase these choices since you believe is the right ones for you which being said 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 aspect that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for instance 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 charges involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost websites then may not charge you for in fact buying and selling funds or etfs private products specific 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 type of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually important to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission fees are complimentary nevertheless there are a number of other charges 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 money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say all right 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 someplace and withdrawal charges are just one of those choices that they have a lot 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 as soon as every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the second cost that i have actually touched upon is that conversion charge 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 great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great 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 two free trade anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really offering you in terms of 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 offer me us dollars instead you have to pay their costs now the excellent feature of however when you’ve converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site won’t certainly restrict you in any way however we need to be aware of 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitly Holdings.
You are offered lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be exactly what you need.