Not really having the full amount of capital…Bittboy Game… so with anything that you’re discovering please do study the platform do not simply presume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option too so you actually get used to the structure of the site 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 purchasing 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 because that person has said they have actually made profit 14 months in a row purchase these options because you think is the best ones for you which 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.
famous for it’s the alternative to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise 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 clearly 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 some of the zero charge sites then might not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 understand before you actually begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission charges are totally free however there are a number of other fees the very first one is withdrawal costs so you can certainly put money in now if you’re 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 but when you want to withdraw your money 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 five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among 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 when every 6 months you understand depends totally how you’re investing but that is a cost to remember the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase 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 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 2 and two open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact 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 state give me us dollars rather you have to pay their fees now the great feature of though when you have actually transformed your cash you do not have to invest it immediately 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their website will not definitely limit you in any way nevertheless we need to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bittboy Game.
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