Not in fact having the full amount of capital…Bittboy V2… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice also so you actually get used to the structure of the site and then 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 real companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually said they have actually made profit 14 months in a row invest in these choices since you believe is the ideal ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 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 likewise cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you in fact begin investing in copy trading or copy portfolios and finally some finest suggestions finest 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 fees actually important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission costs are complimentary nevertheless there are a number of other costs the first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those options that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say provide me us dollars instead you need to pay their fees now the excellent aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash 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 additional fees so that’s truly good using that part of their website will not certainly limit you in any way nevertheless we need to understand two other charges the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bittboy V2.
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