Not in fact having the full amount of capital…Bitboy Academy… so with anything that you’re finding out about please do study the platform don’t simply presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you in fact get utilized 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 threat this is investing we’re doing you’re buying real business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has stated they’ve made profit 14 months in a row invest in these options due to the fact that you believe 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’s part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be mimicked 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 truly crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine companies 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 fee sites then might not charge you for in fact buying and selling funds or etfs individual products private 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 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 know before you really begin investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees actually crucial to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission fees are free however there are a number of other fees the first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing 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 costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those options that they have a great deal of platforms clearly are complimentary 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 once every six months you understand depends completely how you’re investing however that is a cost to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and state provide me us dollars rather you have to pay their costs now the excellent thing about though when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform 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 won’t certainly limit you in any way however we have to understand 2 other charges the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Academy.
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