Not in fact having the full amount of capital…Bitboy On Youtube… so with anything that you’re discovering please do study the platform don’t simply presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you actually get utilized to the structure of the website and then 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 purchasing real business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row purchase these options because you believe is the best ones for you which 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means 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 likewise cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs private products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 really start buying copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission fees are totally free however there are a couple of other charges the first one is withdrawal charges so you can clearly 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 but when you wish to withdraw your money so you offer your shares you sell your commodities 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those choices that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow 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 charge now when you use anyone so if you’re using trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they in fact 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 offer me us dollars instead you have to pay their charges now the fantastic aspect of though when you have actually transformed your cash you do not need to invest it right now that dollar worth can being 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their website won’t definitely limit you in any way nevertheless we need to know two other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy On Youtube.
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