Not actually having the total of capital…Bittboy Game… so with anything that you’re finding out about please do study the platform don’t simply assume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you really get utilized 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 of course your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they have actually made revenue 14 months in a row buy these choices since you think is the ideal ones for you and that being stated let’s dive straight in [Music] so 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 choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included actually crucial you understand what are the costs of this now with any platform there will be some expense to obviously 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 a few of the zero fee sites then may not charge you for really buying and selling funds or etfs individual commodities private stocks.
there’ll be fees 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 reveal you the charges with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with charges really essential to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put cash 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 in the future but when you wish to withdraw your cash so you sell 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 five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that however 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 undoubtedly are totally 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 six months you understand depends entirely how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that fits 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 good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge 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 offer me us dollars instead you need to pay their charges now the terrific aspect of though when you’ve transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests 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 extra costs so that’s really great utilizing that part of their website will not certainly restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread fee as i’m going to show you Bittboy Game.
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