Not in fact having the full amount of capital…Bitboy Discord… so with anything that you’re learning about please do study the platform don’t just presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you actually get used to the structure of the site and then when you’re ready to utilize your own cash 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 pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that person has said they have actually made profit 14 months in a row invest in these options due to the fact that you believe is the ideal ones for you and that being stated 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.
well-known for it’s the option to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for instance 10 of their investment portfolio is 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 understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business 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 zero charge websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 understand prior to you in fact start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees truly crucial to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission costs are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put cash 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 on but when you wish to withdraw your money so you offer your shares you offer 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 of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those options that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a charge 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 option to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there 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 charges now the fantastic feature of though when you’ve transformed your cash you do not need 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 initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent using that part of their website won’t definitely restrict you in any way nevertheless we need to understand 2 other charges the first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Discord.
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