Not actually having the total of capital…Bittboy Real Name… so with anything that you’re learning more about please do study the platform don’t just assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row purchase these options since you think is the right ones for you and that being stated let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing incredible 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 suggests with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 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 charges involved really important you understand what are the expenses of this now with any platform there will be some expense to certainly 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 zero cost websites then might not charge you for actually buying and selling etfs or funds individual commodities specific 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 type of costs associated so do your due diligence and i’m going to show you the fees 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 finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges actually essential to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling alright so commission fees are totally free however there are a couple of other fees the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you sell 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 ensure that i’m just withdrawing when i absolutely require to now you might state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a fee to remember the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches 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 fee now when you use anyone so if you’re using trading two and two open market anybody this is basic they have actually i expect stuck with 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 really offering 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 say provide me us dollars instead you need to pay their costs now the excellent thing about however when you have actually converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 extra costs so that’s truly good using that part of their site won’t certainly restrict you in any way however we have to be aware of 2 other fees the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to show you Bittboy Real Name.
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