Not in fact having the total of capital…Bitboy On Youtube… so with anything that you’re discovering please do study the platform don’t just presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you really get used to the structure of the site and then when you’re ready to use 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 buying real business if you select to in this specific video we’re discussing 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 said they have actually made revenue 14 months in a row purchase these choices since you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing incredible 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 say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies 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 costs involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies 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 zero charge websites then might not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with charges truly important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling okay so commission charges are totally free nevertheless there are a number of other costs the very first one is withdrawal fees 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 however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling 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 knowing that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere 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 charge to keep in mind the second cost that i’ve touched upon is that conversion charge 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 great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort 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 offering 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 state give me us dollars instead you have to pay their costs now the terrific aspect of however when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform 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 excellent using that part of their website won’t certainly limit you in any way however we have to understand 2 other costs the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy On Youtube.
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