Not actually having the full amount of capital…Bitboy Deals… so with anything that you’re finding out about please do study the platform do not simply presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually 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 companies if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually said they have actually made earnings 14 months in a row purchase these choices since you believe is the ideal ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary 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 money we can in fact say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be imitated 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 cash in so we’re going to also cover is the fees included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then might not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 before you in fact start investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling all right so commission charges are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can clearly 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 later however when you wish to withdraw your cash so you offer your shares you sell your commodities 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 naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say okay that’s quite costly 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 just among those alternatives that they have a lot of platforms certainly are totally free 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 as soon as every six months you understand depends entirely how you’re investing but that is a fee to remember the second fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually offering 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 state offer me us dollars rather you need to pay their fees now the excellent aspect of however when you’ve converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 charges so that’s really excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Deals.
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