Not in fact having the full amount of capital…Twitter Michaeljswalker… so with anything that you’re learning more about please do study the platform don’t just assume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you in fact 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 buying real companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they’ve made revenue 14 months in a row buy these choices since you think is the best ones for you and that being stated let’s dive directly 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 element that is probably.
well-known for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests 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 also cover is the costs included actually important you understand what are the expenses of this now with any platform there will be some expense to obviously these are real business 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 charge websites then may not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
there’ll be costs on other parts possibly 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 reveal you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually important to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling alright so commission charges are complimentary however there are a number of other charges the first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those options that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a charge to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really offering 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 provide me us dollars rather you need to pay their costs now the terrific feature of however when you’ve converted your money you do not need to invest it right away that dollar value can being 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 really good utilizing that part of their site won’t definitely limit you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Twitter Michaeljswalker.
You are provided lots of alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this may be precisely what you need.