Not in fact having the total of capital…Bitboy Exchange… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you actually 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 of course your capital is at risk this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you which being said 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.
popular for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for instance 10 of their 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 charges included truly 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 buying the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for in fact buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs truly important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission charges are complimentary nevertheless there are a number of other charges the very first one is withdrawal charges so you can obviously put cash 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 in the future but when you want to withdraw your cash 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 of course understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a cost to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine 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 good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really providing 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 rather you have to pay their fees now the great feature of though when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really good using that part of their site will not certainly restrict you in any way however we have to understand two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Exchange.
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