Not really having the full amount of capital…Bitboy Bitcoin Logo… so with anything that you’re learning more about please do study the platform don’t simply presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row invest in these options because you believe is the right ones for you which being said let’s dive straight 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 choice to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also 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 real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for in fact buying and selling funds or etfs private products individual 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 charges 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 prior to you really start buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees actually essential to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission fees are totally free however there are a couple of other charges 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 cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those choices that they have a lot of platforms obviously 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 once every six months you understand depends entirely how you’re investing however that is a fee to remember the 2nd cost that i’ve touched upon 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 fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever cost 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 exists what are they in fact giving you in regards to 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 instead you have to pay their costs now the excellent aspect of however when you’ve converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests 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 additional fees so that’s actually great utilizing that part of their site will not certainly restrict you in any way however we have to understand two other charges the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Bitboy Bitcoin Logo.
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