Not in fact having the total of capital…Bittboy Firmware… so with anything that you’re discovering please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they’ve made earnings 14 months in a row buy these options since you believe is the right ones for you which being stated let’s dive directly 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 belongs to social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for instance 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 likewise cover is the costs involved actually important you understand 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 included and even a few of the absolutely no cost sites then may not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a couple of charges there isn’t charges to do with really buying and selling alright so commission fees are free nevertheless there are a number of other fees the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you sell your shares you offer your commodities 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really offering 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 state give me us dollars instead you need to pay their fees now the great feature of however when you’ve transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent utilizing that part of their website won’t definitely limit you in any way however we have to be aware of two other fees the first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Bittboy Firmware.
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