Not actually having the full amount of capital…Bittboy Emulator… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get used to the structure of the site and then when you’re ready to utilize your own cash 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 genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they’ve made profit 14 months in a row buy these choices because you think is the best ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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 alternative to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost websites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts possibly 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 reveal you the costs with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms certainly are totally free 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 as soon as every 6 months you know depends totally how you’re investing but that is a charge to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great 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 anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use 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 say give me us dollars rather you have to pay their fees now the excellent aspect of though when you’ve 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 means the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their website won’t definitely restrict you in any way however we need to be aware of 2 other charges the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bittboy Emulator.
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