Not in fact having the total of capital…Bitboy Video… so with anything that you’re learning more about please do study the platform don’t 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 in fact get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these options since you believe is the right ones for you which being stated 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests 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 charges involved really critical you understand what are the costs 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 a few of the zero cost websites then might not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really essential to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling fine so commission charges are free however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you sell your commodities 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state all right that’s quite 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 fees are simply among those options that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars only 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 anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have i suppose stuck with whatever cost 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 fee 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 haggle with them you can’t go to the bank and say provide me us dollars rather you need to pay their fees now the terrific feature of however when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their site will not certainly limit you in any way however we have to be aware of two other costs the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Video.
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