Not actually having the total of capital…Bitboy On Twitter… so with anything that you’re learning more about please do study the platform do not just assume because i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice also so you really get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about 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 simply do something because that individual has stated they’ve made profit 14 months in a row buy these options due to the fact that you believe is the ideal ones for you and that being stated 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really say i want to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies 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 also cover is the charges involved really important you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 absolutely no charge sites then might not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 in fact start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges actually crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling all right so commission charges are free however there are a number of other charges the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends completely how you’re investing however that is a fee to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow 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 utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists 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 offer me us dollars instead you have to pay their charges now the fantastic thing about though when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent utilizing that part of their website won’t certainly limit you in any way nevertheless we need to know two other fees the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy On Twitter.
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