Not really having the full amount of capital…Bittboy Zx Spectrum… so with anything that you’re learning more about please do study the platform don’t just presume since i utilize 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 choice as well so you really get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually stated they have actually made profit 14 months in a row invest in these options because you think is the right ones for you which being said let’s dive directly 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 element that is most likely.
famous for it’s the option to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates 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 actually critical 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 buying the selling for you there’s going to be charges involved and even some of the zero fee sites then might not charge you for really buying and selling funds or etfs private products individual 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 sort of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really important to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling alright so commission costs are totally free however there are a number of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
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 quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply one of those options that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a charge to remember the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine 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 good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they really giving 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 give me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their site will not certainly restrict you in any way however we have to be aware of two other costs the first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bittboy Zx Spectrum.
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