Not in fact having the total of capital…Bittboy V3.5… so with anything that you’re learning more about please do study the platform don’t simply presume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row invest in these options because you believe is the best ones for you and that being said 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 element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included truly critical you comprehend 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 buying the selling for you there’s going to be charges involved and even a few of the no fee websites then might not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 know prior to you actually start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other charges the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s instantly 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 offer your shares you offer your commodities whatever you’re selling the minimum quantity 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 certain that i’m only withdrawing when i absolutely require to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those choices that they have a great deal of platforms clearly 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 as soon as every six months you know depends totally how you’re investing but that is a charge to keep in mind the second cost 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 which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever fee 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 cost exists what are they actually giving you in terms of 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 give me us dollars instead you have to pay their fees now the great feature of however when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their website won’t certainly limit you in any way however we have to know 2 other fees the first being what’s called spread charges fine and i’m going to show you what i imply on now a spread charge as i’m going to show you Bittboy V3.5.
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