Not in fact having the full amount of capital…Bitboy Frontier… so with anything that you’re finding out about please do study the platform do not just presume because i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have 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 invest in these choices due to the fact that you think is the ideal ones for you and that being stated 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 most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we do not typically 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 in fact say i wish to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for instance 10 of their 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 included actually crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 websites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission costs are complimentary however there are a number of other fees the very first one is withdrawal fees so you can undoubtedly put cash 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 on however when you want to withdraw your cash so you sell your shares you offer your products 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 of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those options that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends completely how you’re investing however that is a cost to keep in mind the second cost that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really providing 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 instead you need to pay their fees now the excellent thing about though when you’ve converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their website won’t definitely limit you in any way however we have to be aware of two other charges the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Frontier.
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