Not in fact having the full amount of capital…Bittboy Volume Control… so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you actually 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 obviously your capital is at risk this is investing we’re doing you’re investing in real business if you select 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 danger and we have to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row buy these options because you believe is the right 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.
famous for it’s the choice to see what other traders are doing incredible we do not generally 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 in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 10 of their financial 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 fees involved really vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 no cost sites then might not charge you for in fact buying and selling funds or etfs individual commodities 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 charges 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 before you actually start buying copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling okay so commission fees are free however there are a number of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say fine 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 someplace and withdrawal costs are simply among those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing however that is a fee to keep in mind the second cost that i’ve 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 great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and state offer me us dollars rather you have to pay their charges now the excellent thing about though when you have actually transformed your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their website will not definitely limit you in any way however we have to know 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Bittboy Volume Control.
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