Not really having the total of capital…Bitboy Giveaway… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you in fact get used to the structure of the site and then when you’re ready to use 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 genuine companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included actually crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee websites then may not charge you for really buying and selling etfs or funds private commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 understand before you really begin buying copy trading or copy portfolios and lastly some finest recommendations 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 number of charges there isn’t costs to do with really buying and selling fine so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly 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 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 of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to remember the second charge 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 and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact providing you in regards to 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 have to pay their fees now the fantastic feature of however when you’ve 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 buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their site won’t definitely limit you in any way nevertheless we need to be aware of two other costs the very 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 show you Bitboy Giveaway.
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