Not in fact having the total of capital…Bitboy Founder… so with anything that you’re learning about please do study the platform do not just presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you in fact get used to the structure of the site 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 real business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something since that individual has said they’ve made revenue 14 months in a row buy these options due to the fact that you think is the best ones for you which being stated let’s dive directly 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 choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests 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 costs included really vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies 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 sites then might not charge you for actually buying and selling funds or etfs individual products individual 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 type of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with costs truly crucial to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling all right so commission fees are complimentary however there are a couple of other fees the very first one is withdrawal charges so you can obviously 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 however when you wish to withdraw your money so you sell your shares you offer your products 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 ensure that i’m just withdrawing when i definitely need to now you might state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those options that they have a great deal of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and 2 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 need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact providing you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and say offer me us dollars instead you need to pay their charges now the fantastic thing about though when you have actually converted your cash you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 actually good utilizing that part of their site will not definitely limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread cost as i’m going to show you Bitboy Founder.
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