Not really having the total of capital…Bitboy Instagram… so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that 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 cash they give that option as well so you in fact get used to the structure of the site and then when you’re ready to use 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 buying genuine companies 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 have to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row buy these options since you think is the ideal ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 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 fees included actually vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real 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 zero charge sites then may not charge you for really buying and selling funds or etfs individual 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 type 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 know prior to you really start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs truly crucial to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary however there are a number of other charges the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 in the future however when you wish 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those options that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends totally how you’re investing however that is a charge to remember the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a great deal 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 utilize anybody so if you’re using trading two and two open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they in fact providing you in terms of 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 offer me us dollars rather you need to pay their charges now the excellent thing about though when you have actually transformed your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies 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 costs so that’s actually excellent utilizing that part of their site won’t certainly limit you in any way however we need to know 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Instagram.
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