Not really having the total of capital…Bitboy Dogecoin… so with anything that you’re learning more about please do study the platform do not simply assume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used to the structure of the website 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 threat this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they’ve made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated 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 belongs to social trading which is one aspect that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included truly crucial 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 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 really buying and selling etfs or funds private products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees really important to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission fees are totally free however there are a number of other fees the very first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re offering 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 only withdrawing when i definitely need to now you may state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative 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 buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two open market anybody 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 understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really 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 say provide me us dollars rather you need to pay their charges now the fantastic thing about however when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their website will not certainly restrict you in any way nevertheless we have to know two other fees the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Dogecoin.
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