Not in fact having the full amount of capital…Bitboy Lab Academy… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that 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 money they give that alternative also so you really get utilized 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 obviously your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row buy 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included actually critical you understand what are the costs of this now with any platform there will be some expense to clearly 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 some of the zero cost sites then may not charge you for actually buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with charges truly essential to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling fine so commission fees are free nevertheless there are a couple of other charges the first one is withdrawal costs so you can certainly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say okay 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 among those options that they have a great deal of platforms obviously are complimentary 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 when every 6 months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they actually 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 fees now the fantastic feature of however when you have actually converted your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial 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 additional costs so that’s really excellent utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Bitboy Lab Academy.
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