Not really having the total of capital…Bitboy On Dogecoin… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that 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 consider that alternative also so you really get used to the structure of the website and after that when you’re ready to use your own cash 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 real business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row invest in these choices because you believe is the right ones for you and that being stated let’s dive directly 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 most likely.
popular for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for example 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 fees involved really important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for really buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 know prior to you in fact begin purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with costs really essential to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission charges are totally free however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly 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 in the future but when you wish to withdraw your cash so you sell 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 five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends totally how you’re investing but that is a cost to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually providing you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their charges now the great aspect of however when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their site won’t definitely limit you in any way however we have to understand 2 other charges 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 reveal you Bitboy On Dogecoin.
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