Not actually having the total of capital…Bitboy Dash… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get used 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 naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that person has actually said they have actually made revenue 14 months in a row buy these options since you think is the best ones for you which being stated let’s dive directly 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 probably.
popular for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do exactly what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for actually buying and selling funds or etfs private products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 prior to you in fact start investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with fees truly important to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money 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 five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway 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 cost now when you use anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually providing 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 say offer me us dollars rather you have to pay their charges now the great aspect of however when you’ve transformed your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their website won’t certainly restrict you in any way however we need to understand 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Dash.
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