Not really having the total of capital…Bitboy Academy… so with anything that you’re finding out about please do study the platform do not simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you in fact get used to the structure of the site and after that when you’re ready to use your own money 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 real business if you pick to in this specific video we’re speaking about 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 since that individual has said they have actually made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being stated let’s dive straight 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 element that is probably.
well-known for it’s the option to see what other traders are doing amazing 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 implies with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for instance 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 charges involved truly critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 before you actually begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission fees are free nevertheless there are a couple of other charges 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 cash.
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 money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a lot of platforms obviously are complimentary 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 when every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a lot 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 anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually 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 say provide me us dollars instead you have to pay their charges now the fantastic thing about however when you have actually converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their site will not certainly restrict you in any way nevertheless we have to understand 2 other costs the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Academy.
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