Not actually having the total of capital…Bittboy Handheld… so with anything that you’re learning about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you in fact get used to the structure of the site and after that 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 buying genuine companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not just do something because that person has actually said they have actually made profit 14 months in a row purchase these choices since you think is the ideal ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests 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 basically each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included really critical you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 understand prior to you actually begin investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with costs actually important to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission charges are complimentary nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell 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 ensure that i’m only withdrawing when i definitely need to now you may state fine that’s rather pricey 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 one of those alternatives that they have a great deal of platforms obviously are 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 once every six months you know depends completely how you’re investing however that is a cost to bear in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact giving 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 state provide me us dollars instead you have to pay their charges now the great aspect of though when you have actually converted your money you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to be aware of two other charges the first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Bittboy Handheld.
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