Not really having the total of capital…Bitboy Ada Pool… so with anything that you’re learning more about please do study the platform do not simply assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row invest in these choices because you believe is the best ones for you and that being said 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 element that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests 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 generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business 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 cost sites then might not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts possibly 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 show you the charges with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and lastly some finest advice 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 crucial to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission charges are totally free however there are a couple of other costs the first one is withdrawal charges so you can certainly put cash 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 later on but when you wish to withdraw your cash so you offer your shares you offer your products 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 say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends completely how you’re investing but that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really providing 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 give me us dollars instead you need to pay their charges now the terrific aspect of however when you have actually transformed your money you do not need to invest it immediately that dollar value can being 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 occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website won’t definitely limit you in any way nevertheless we need to know two other charges the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Bitboy Ada Pool.
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