Not in fact having the full amount of capital…Bittboy Firmware… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you really get used 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 danger this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since that person has said they have actually made earnings 14 months in a row purchase these choices because you think is the best ones for you and that being stated 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 element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests 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 likewise cover is the charges involved actually important you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business 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 no cost websites then might not charge you for actually buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission costs are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 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 state alright that’s quite expensive 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 one of those choices that they have a lot of platforms certainly are complimentary 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 when every six months you understand depends completely how you’re investing but that is a cost to bear 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 alternative to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade 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 understand if you wish to use their platform go from uk to us then that conversion charge is there what are they actually offering you in terms of 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 provide me us dollars rather you need to pay their costs now the great thing about though when you’ve converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their website will not certainly restrict you in any way however we need to be aware of 2 other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Bittboy Firmware.
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