Not really having the total of capital…Bitboy.Io… so with anything that you’re learning more about please do study the platform do not simply presume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option as well so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has actually said they have actually made profit 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive directly in [Music] so the important 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.
famous for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains 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 truly crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then might not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 in fact start investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly important to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission fees are totally free however there are a number of other charges the very first one is withdrawal costs 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 on but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity 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 make sure that i’m just withdrawing when i absolutely require to now you might state fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply among those options that they have a great deal 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 6 months you know depends completely how you’re investing but that is a charge to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that suits 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 good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anybody this is basic they have i expect stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they in fact offering you in regards to 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 give me us dollars instead you have to pay their fees now the terrific aspect of though when you’ve transformed your money you do not need to invest it right away 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 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 excellent using that part of their website won’t certainly limit you in any way however we need to be aware of 2 other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy.Io.
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