Not in fact having the total of capital…Bitboy Height… so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you really get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually said they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the best 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 probably.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests 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 likewise cover is the costs involved truly critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real 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 no fee websites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.
there’ll be costs 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 show you the fees with in particular in this video the next would be things to understand before you actually start buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling fine so commission costs are totally free nevertheless there are a number of other charges the first one is withdrawal charges so you can certainly put money in now if you remain 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 but when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only 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 anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they actually giving 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 have to pay their fees now the excellent thing about though when you have actually 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good using that part of their website won’t certainly restrict you in any way however we have to understand two other costs the first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Height.
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