Not in fact having the full amount of capital…Bitboy Frontier… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option also so you really get utilized to the structure of the website 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 investing in genuine business if you select to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they’ve made earnings 14 months in a row invest in these options because you think is the best 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 most likely.
famous for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates 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 truly important you understand what are the expenses of this now with any platform there will be some expense to obviously these are real 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 absolutely no cost sites then may not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with fees truly important to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling alright so commission costs are free however there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money 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 five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those options that they have a lot of platforms clearly are 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 when every six months you know depends totally how you’re investing but that is a fee to bear in mind the second charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway 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 cost now when you use anybody so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 state provide me us dollars instead you have to pay their charges now the excellent aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy 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 really good utilizing that part of their site won’t definitely limit you in any way nevertheless we have to know two other fees the very first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Frontier.
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