Not in fact having the total of capital…Bitboy Ecomi… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you actually get utilized to the structure of the website 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 danger this is investing we’re doing you’re purchasing genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these choices because you think is the best ones for you which being said let’s dive directly 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 element that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your cash 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 cash in so we’re going to also cover is the costs involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 understand before you actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with charges truly essential to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s instantly 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 selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to remember the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great 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 anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering you in regards to 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 say give me us dollars rather you have to pay their charges now the great feature of however when you’ve transformed 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 convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually great using that part of their site won’t definitely restrict you in any way nevertheless we have to know 2 other fees the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Ecomi.
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