Not in fact having the full amount of capital…Bitboy Toronto… so with anything that you’re learning about please do study the platform do not just assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you really get utilized to the structure of the site and after that when you’re ready to use 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 buying genuine business if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the right ones for you which being said let’s dive straight 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.
well-known for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means if for instance 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 also cover is the charges involved truly vital you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine 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 fee sites then may not charge you for in fact buying and selling funds or etfs private 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 fees with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really essential to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission charges are free nevertheless there are a number of other fees the first one is withdrawal fees so you can clearly put money 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 later on however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those alternatives that they have a lot of platforms certainly 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 once every 6 months you understand depends entirely how you’re investing however that is a charge to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy 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 fee now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually providing 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 provide me us dollars rather you have to pay their fees now the terrific feature of however when you have actually transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates 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 extra costs so that’s truly great utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to know 2 other fees the very first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Toronto.
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