Not actually having the total of capital…Bittboy Hellcat… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you actually get utilized to the structure of the site 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 threat this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row purchase these options due to the fact that you believe is the right 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’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing incredible 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 suggests with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for example 10 of their financial 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 truly important you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero cost sites then may not charge you for in fact buying and selling etfs or funds individual commodities private 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 sort of costs 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 start purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees really important to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can clearly put money 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 in the future but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those alternatives 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 understand depends totally how you’re investing however that is a cost to remember the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there 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 say offer me us dollars rather you need to pay their costs now the excellent aspect of though when you’ve converted 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 suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great utilizing that part of their website will not definitely restrict you in any way however we have to understand 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bittboy Hellcat.
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