Not actually having the full amount of capital…Bitboy Hedera… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the website and after that 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 investing in real business if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row invest in these choices because you believe is the ideal ones for you which being stated 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 aspect that is probably.
popular for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included really vital you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for in fact buying and selling etfs or funds specific products specific 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 kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and finally some finest guidance 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 charges actually crucial to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission fees are complimentary however there are a number of other fees the first one is withdrawal costs so you can certainly put cash 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 however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms certainly are totally 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 once every six months you know depends completely how you’re investing however that is a fee to bear in mind the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine 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 charge now when you use anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually providing 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 state provide me us dollars instead you have 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 value 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great using that part of their website will not definitely restrict you in any way however we have to know 2 other fees the very first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Hedera.
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