Not in fact having the total of capital…Bitboy Deals… so with anything that you’re finding out about please do study the platform do not just assume because i use 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 alternative too so you in fact get utilized to the structure of the website 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 threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you which being said let’s dive directly 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked 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 also cover is the costs included truly vital you comprehend what are the expenses 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 involved and even a few of the absolutely no charge websites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 prior to you in fact begin purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with charges really essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission fees are free however there are a number of other costs the first one is withdrawal charges so you can obviously put money in now if you remain 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 in the future but when you wish to withdraw your money so you sell 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 five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those alternatives 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 once every six months you understand depends totally how you’re investing however that is a cost to remember the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great 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 free trade anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact 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 rather you have to pay their charges now the excellent thing about however when you have actually converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform 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 truly great utilizing that part of their site will not certainly restrict you in any way nevertheless we have to understand two other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy Deals.
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