Not really having the total of capital…Bitboy Amp… so with anything that you’re finding out about please do study the platform don’t simply assume since 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 give that option as well so you in fact get used to the structure of the website 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 investing in real business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made profit 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you and that being said let’s dive straight 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 choice to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge websites then might not charge you for really buying and selling etfs or funds private products individual 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 type of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and finally some finest recommendations 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 charges really essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can clearly put cash 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 but when you wish to withdraw your cash so you sell 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of those alternatives that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that fits 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 cost now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you know 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 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 say offer me us dollars instead you need to pay their costs now the great thing about though when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial 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 additional charges so that’s truly excellent using that part of their site won’t certainly limit you in any way nevertheless we need to be aware of two other charges the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Amp.
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