Not in fact having the full amount of capital…Bittboy Pocket Go V2… so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get utilized to the structure of the site and after that when you’re ready to utilize 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 specific video we’re speaking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row buy these choices because you think is the ideal ones for you which being said let’s dive straight 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.
popular for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally whenever they make a trade they buy 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 truly critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies 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 cost websites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 before you actually start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs actually important to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling fine so commission costs are totally free however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to bear in mind the second cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving you in terms of 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 state provide me us dollars rather you have to pay their charges now the excellent feature of however when you have actually transformed 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 indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site will not definitely limit you in any way nevertheless we need to be aware of two other charges the first being what’s called spread costs all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bittboy Pocket Go V2.
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