Not actually having the full amount of capital…Bitboy Bitcoin… so with anything that you’re discovering please do study the platform do not simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that option too so you actually get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not just do something because that individual has said they have actually made profit 14 months in a row invest in these choices since you think is the best ones for you and that 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 usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for example 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 fees included actually critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies 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 no charge sites then might not charge you for in fact buying and selling etfs or funds individual products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount 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 make sure that i’m just withdrawing when i definitely need to now you may state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a fee to remember the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’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 good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort 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 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 say provide me us dollars instead you need to pay their fees now the great feature of though when you have actually converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent using that part of their website will not certainly limit you in any way nevertheless we need to be aware of two other costs the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Bitcoin.
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