Not in fact having the full amount of capital…Bitboy Hex… so with anything that you’re learning about please do study the platform do not simply presume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row buy these choices since you think is the ideal ones for you which being said 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 element that is probably.
well-known for it’s the option to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your cash will be imitated 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 cash in so we’re going to also cover is the costs included actually important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real 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 fee websites then might not charge you for actually buying and selling etfs or funds individual products 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 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 know prior to you actually start buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees actually important to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission costs are complimentary however there are a number of other charges the first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those options that they have a lot of platforms undoubtedly 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 as soon as every six months you understand depends totally how you’re investing however that is a cost to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i expect stuck with whatever cost 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 cost 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 give me us dollars rather you have to pay their costs now the great feature of though when you have actually converted your money you do not need to invest it right away 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 costs so that’s truly good utilizing that part of their site will not definitely restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bitboy Hex.
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