Not actually having the total of capital…Bittboy Firmware… so with anything that you’re finding out about please do study the platform do not just assume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you in fact get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row purchase these options because you think is the right ones for you and that being stated let’s dive directly 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 alternative to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your money will be imitated with it so that means 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 likewise cover is the costs included truly crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine 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 zero fee websites then might not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with costs truly crucial to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling alright so commission fees are free however there are a number of other fees the very first one is withdrawal costs so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 absolutely require to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those options that they have a great deal of platforms certainly are totally 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 know depends completely how you’re investing however that is a cost to bear in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow 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 charge now when you utilize anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind 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 actually 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 say provide me us dollars instead you have to pay their charges now the terrific feature of however when you have actually converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 costs so that’s really excellent utilizing that part of their site will not certainly limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread fees alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bittboy Firmware.
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