Not in fact having the total of capital…Bitboy Sandbox… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize 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 actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually stated they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the ideal ones for you which 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore 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 options and essentially every time they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for example 10 of their financial 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 charges involved truly 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 included and even some of the no charge sites then might not charge you for really buying and selling etfs or funds specific products individual stocks.
there’ll be charges 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 begin investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with costs actually crucial to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission fees are free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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 money so you offer 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 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those options that they have a lot of platforms certainly are complimentary 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 as soon as every 6 months you know depends entirely how you’re investing however that is a fee to bear in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine 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 anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they in fact 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 offer me us dollars rather you have to pay their fees now the great aspect of though when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary 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 additional charges so that’s actually excellent utilizing that part of their website won’t certainly restrict you in any way however we need to understand two other charges the first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Sandbox.
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