Not actually having the full amount of capital…Bitboy Exe… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you really 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 obviously your capital is at risk this is investing we’re doing you’re investing in real business if you select to in this particular video we’re talking about how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the right 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 aspect that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial 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 charges included really critical you understand what are the costs of this now with any platform there will be some cost 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 a few of the absolutely no charge sites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts perhaps 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 reveal you the costs with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees actually crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling fine so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can clearly put cash 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 want to withdraw your money so you sell your shares you sell your products whatever you’re offering 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 make certain that i’m just withdrawing when i definitely require to now you might state okay that’s quite 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 charges are just one of those alternatives that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a cost to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyway 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 anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of need 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 in fact providing 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 state give me us dollars rather you have to pay their charges now the terrific aspect of though when you have actually transformed your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary 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 great utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to know 2 other fees the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Bitboy Exe.
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