Not in fact having the total of capital…Bitboy Hedera… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i use 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 also so you really 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 naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row purchase these choices due to the fact that you believe is the best ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial 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 truly critical you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost websites then may not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be fees 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 reveal you the costs with in particular in this video the next would be things to understand prior to you actually start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with fees really crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission costs are totally free however there are a number of other charges the very first one is withdrawal charges so you can undoubtedly 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 on however when you want to withdraw your cash so you sell your shares you offer your commodities 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 sure that i’m only withdrawing when i absolutely need to now you may state all right that’s quite pricey 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 among those alternatives that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a charge to bear in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really 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 offer me us dollars rather you have to pay their costs now the excellent feature of though when you have actually transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy Hedera.
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