Not really having the full amount of capital…Bitboy Exe… so with anything that you’re learning about please do study the platform do not just assume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made profit 14 months in a row purchase these options due to the fact that you think is the ideal ones for you and that being stated let’s dive directly in [Music] so the important 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 do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates 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 likewise cover is the costs included really vital you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge websites then may not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 prior to you in fact start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs truly important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission fees are totally free however there are a couple of other charges the first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 on but when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you may state fine that’s rather pricey 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 among those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 free trade anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually 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 say give me us dollars instead you need to pay their costs now the excellent feature of though when you’ve converted your money you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their website won’t definitely limit you in any way however we have to know 2 other fees the very first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Exe.
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