Not really having the full amount of capital…Bitboy Founder… 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 use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row invest in these options due to the fact that you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly critical you understand 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 purchasing the selling for you there’s going to be charges included 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 charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 understand prior to you actually begin investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually essential to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission charges are free however there are a couple of other fees the very 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 automatically 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 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 five 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 rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply one of those choices that they have a lot of platforms clearly are totally free to do such things has this five 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 totally how you’re investing but that is a charge to remember the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there 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 haggle with them you can’t go to the bank and state give me us dollars instead you need to pay their fees now the terrific thing about though when you’ve converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 extra charges so that’s actually great using that part of their site won’t certainly limit you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread charges all right and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Founder.
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