Not really having the total of capital…Bitboy Today… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at threat and we need 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 invest in these choices since you believe is the best ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial 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 involved actually crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then might not charge you for really buying and selling funds or etfs private products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually important to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission charges are free nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put cash in now if you’re 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 but when you want to withdraw your cash so you offer your shares you offer 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms obviously are totally free 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 when every 6 months you understand depends totally how you’re investing but that is a fee to remember the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that suits 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 fee now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they in fact offering 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 state offer me us dollars instead you need to pay their charges now the fantastic thing about though when you have actually transformed 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 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 charges so that’s actually great utilizing that part of their website won’t definitely restrict you in any way nevertheless we need to understand 2 other fees the first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Today.
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