Not actually having the full amount of capital…Bitboy Lawsuit… 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 now do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you really get utilized to the structure of the site and after that 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 business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has stated they have actually made earnings 14 months in a row invest in these options due to the fact that you think 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine 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 zero fee websites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really crucial to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling okay so commission costs are free nevertheless there are a number of other charges the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great 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 excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state give me us dollars rather you have to pay their fees now the fantastic feature of however when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their site won’t definitely restrict you in any way however we need to understand 2 other costs the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Lawsuit.
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