Not actually having the full amount of capital…Bitboy Labs… so with anything that you’re learning about please do study the platform don’t just assume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you really get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that person has said they’ve made earnings 14 months in a row invest in these choices since you think is the best ones for you and that being stated 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.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated 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 charges included actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 prior to you in fact start investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling all right so commission fees are complimentary however there are a number of other fees the first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you offer your shares you offer 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms obviously are free 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 when every six months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent 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 free trade anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they really 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 fantastic thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their website won’t certainly limit you in any way however we have to know two other charges the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Labs.
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