Not in fact having the full amount of capital…Bitboy Dogecoin… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that 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 money 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 use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re discussing 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 revenue 14 months in a row buy these options because you believe is the right ones for you which being said let’s dive directly 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 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 implies with our cash we can really say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for example 10 of their 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 charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then may not charge you for actually buying and selling funds or etfs specific commodities 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 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 finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs actually crucial to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling fine so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal fees so you can undoubtedly 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 later however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling 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 sure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those alternatives that they have a lot of platforms clearly are free 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 understand depends completely how you’re investing but that is a cost to remember the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that suits me.
a great deal 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 fee now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost 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 say offer me us dollars instead you need to pay their costs now the excellent aspect of however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 additional charges so that’s actually great utilizing that part of their website will not certainly limit you in any way nevertheless we have to know two other charges the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Dogecoin.
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