Not in fact having the full amount of capital…Bitboy Dash… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that 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 consider that choice also so you in fact get used to the structure of the website 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 danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the right ones for you and that being stated 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 aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies 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 truly critical you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are genuine business 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 charge sites then may not charge you for actually buying and selling funds or etfs private commodities individual 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 costs associated so do your due diligence and i’m going to show you the fees 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 lastly some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with charges really crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other costs the first one is withdrawal charges so you can obviously put money in now if you remain 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 later but when you wish to withdraw your cash so you offer your shares you sell your commodities 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those options that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a charge to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually providing 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 provide me us dollars rather you need to pay their charges now the excellent feature of though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs fine and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Dash.
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