Not in fact having the total of capital…Bitboy Twitter… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative 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 obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something because that person has stated they’ve made earnings 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 straight in [Music] so the important 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.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means 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 vital you understand 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 purchasing the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission fees are complimentary however there are a number of other costs the very first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely 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 have to charge fees someplace and withdrawal fees are just among those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a cost to remember the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you kind 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 actually 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 say give me us dollars instead you have to pay their charges now the terrific aspect of however when you have actually transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their site will not definitely limit you in any way however we have to understand two other charges the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Twitter.
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