Not actually having the total of capital…Bitboy Toronto… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option also so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row buy these choices due to the fact that you believe is the ideal ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be imitated 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 cash in so we’re going to also cover is the charges involved really important you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you actually start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling okay so commission charges are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can obviously put cash 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 later however when you want to withdraw your money so you sell your shares you offer 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 obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms undoubtedly are complimentary 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 but that is a charge to keep in mind the second charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that matches 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 cost now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost 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 say offer me us dollars instead you need to pay their fees now the terrific feature of however when you have actually transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies 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 great utilizing that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other fees the very first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Bitboy Toronto.
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