Not in fact having the total of capital…Do Donna And Michael Get Together… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get utilized 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 naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they’ve made profit 14 months in a row buy these choices because you think is the ideal ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial 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 costs involved truly important you comprehend what are the costs 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 included and even a few of the zero charge websites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges truly crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission costs are free however there are a number of other fees the first one is withdrawal fees so you can obviously put money in now if you’re 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 later on but when you want to withdraw your cash so you sell 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and state give me us dollars instead you have to pay their charges now the great aspect of however when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good utilizing that part of their website will not certainly restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to show you Do Donna And Michael Get Together.
You are provided numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this might be exactly what you need.