Not actually having the full amount of capital…Will Elon Musk Be The First Trillionaire… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you really get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row buy these choices due to the fact that you think 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 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 incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their financial 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 important you understand what are the costs of this now with any platform there will be some cost to clearly these are real 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 zero charge websites then may not charge you for really buying and selling funds or etfs individual commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs truly crucial to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission fees are totally free however there are a number of other charges the very first one is withdrawal charges so you can obviously put cash 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 however when you wish to withdraw your cash so you sell your shares you sell 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 knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually touched upon 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 matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and 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 utilizing trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact 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 need to pay their costs now the excellent thing about though when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their website won’t definitely restrict you in any way however we need to know two other costs the first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Will Elon Musk Be The First Trillionaire.
You are provided numerous alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to choose, then this may be precisely what you require.