Not really having the total of capital…Bittboy Vs Anbernic… so with anything that you’re finding out about please do study the platform don’t simply assume because 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 consider that choice as well so you actually get utilized 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 obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that person has stated they have actually made earnings 14 months in a row invest in these choices because you think is the right 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 belongs to social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests 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 likewise cover is the costs included truly critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge websites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal charges 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 later but when you want to withdraw your money so you sell 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 five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state all right that’s quite costly and i get that but 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 alternatives that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a cost to remember the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great 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 anybody this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there 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 provide me us dollars instead you have to pay their costs now the great thing about however when you have actually transformed your money you do not have 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 buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to know two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bittboy Vs Anbernic.
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