Not really having the full amount of capital…Bitboy Investments… so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you in fact get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row purchase 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 element that is most likely.
well-known for it’s the option to see what other traders are doing unbelievable we do not usually 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 state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for example 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 also cover is the charges involved really crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge websites then might not charge you for actually buying and selling etfs or funds private products private 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 fees with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling fine so commission fees are complimentary nevertheless there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among 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 as soon as every 6 months you understand depends totally how you’re investing however that is a charge to remember the second fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 using trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they really providing 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 provide me us dollars instead you have to pay their charges now the terrific aspect of however when you have actually converted your money you do not need to invest it immediately 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 buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their site will not definitely restrict you in any way however we need to know 2 other fees the very first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Investments.
In general, traders who utilize EToro in Trading 212 will discover it to be among the best and most convenient platforms to use. You are offered numerous alternatives with this software application and you can configure it however you see fit. This makes it extremely flexible and easy to use. Plus, you get trading signals delivered right to you, which is a huge plus. So, if you’re looking to start trading the forex market but don’t know which system to choose, then this may be precisely what you need.