Not really having the total of capital…Bitboy Video… so with anything that you’re discovering please do study the platform don’t simply assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually 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 obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row invest in these choices 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially whenever 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 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 fees involved really crucial you understand what are the expenses of this now with any platform there will be some cost to clearly 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 zero fee sites then might not charge you for in fact buying and selling etfs or funds individual commodities specific 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 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 really start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees really essential to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are totally free however there are a number of other charges the first one is withdrawal fees so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state fine that’s rather expensive 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 one of those options that they have a lot of platforms undoubtedly are totally free 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 6 months you understand depends totally how you’re investing but that is a charge to bear in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that suits me.
a lot 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 charge now when you utilize anyone so if you’re utilizing trading two and two open market anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really offering 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 state give me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their website will not definitely limit you in any way nevertheless we need to understand 2 other costs the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy Video.
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