Not in fact having the total of capital…Bitboy Tiktok… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you in fact get utilized to the structure of the website and after that when you’re ready to use 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 genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something because that person has actually stated they’ve made profit 14 months in a row purchase these options since you believe is the ideal ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes 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 unbelievable we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies if for instance 10 of their 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 really vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for really buying and selling funds or etfs individual commodities private 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 sort 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 prior to you actually start buying copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really important to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling okay so commission fees are free however there are a number of other charges the very first one is withdrawal fees so you can certainly 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 however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say fine 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 fees are just among those options that they have a lot of platforms clearly are 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 6 months you understand depends totally how you’re investing but that is a charge to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of have 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 say give me us dollars instead you have to pay their charges now the fantastic feature of though when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent utilizing that part of their website won’t certainly limit you in any way nevertheless we have to be aware of two other charges the first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Tiktok.
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