Not in fact having the full amount of capital…Bitboy Dogecoin… so with anything that you’re discovering please do study the platform don’t just presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real business if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually said they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the ideal 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 aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we don’t normally 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 cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for instance 10 of their 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 really vital you understand 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 purchasing the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for actually 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 fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really begin investing in copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission charges are free nevertheless there are a number of other fees the 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 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 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 ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply among those choices that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed 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 matches 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 excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 open market anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they really 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 state give me us dollars instead you have to pay their fees now the terrific feature of though when you have actually converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great using that part of their site will not definitely limit you in any way however we have to understand 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Dogecoin.
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