Not in fact having the full amount of capital…Bittboy Gameboy… so with anything that you’re learning more about please do study the platform do not simply assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the site 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 threat this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row invest in these options because you believe is the ideal ones for you which 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 aspect that is probably.
popular for it’s the option to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their 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 involved actually crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show 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 lastly some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges actually essential to comprehend these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission costs are free nevertheless there are a number of other fees the very first one is withdrawal charges so you can obviously 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 however when you wish to withdraw your cash so you offer your shares you sell your products 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those alternatives that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends completely how you’re investing but that is a fee to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee is there 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 state give me us dollars instead you need to pay their charges now the terrific feature of though when you’ve converted your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their website will not certainly restrict you in any way nevertheless we have to know two other charges the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread charge as i’m going to show you Bittboy Gameboy.
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