Not actually having the total of capital…Bitboy Kucoin… so with anything that you’re discovering please do study the platform do not simply presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these options because you think is the best ones for you and that 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 element that is most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for in fact buying and selling etfs or funds individual commodities private 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 sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you in fact start purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees actually essential to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling fine so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk cash.
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 money so you sell your shares you offer your commodities whatever you’re offering 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 just withdrawing when i definitely require to now you may say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those choices that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends entirely how you’re investing however that is a charge to remember the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a lot 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 charge now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee 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 in fact giving 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 provide me us dollars rather you need to pay their charges now the terrific feature of though when you’ve converted your money you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their website will not certainly restrict you in any way however we need to be aware of 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Kucoin.
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