Not really having the full amount of capital…Bitboy On Twitter… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you in fact get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your cash so certainly 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 best ones for you which 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so 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 generally every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 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 involved truly 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 purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for really buying and selling funds or etfs private products individual stocks.
there’ll be fees 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 show you the charges with in particular in this video the next would be things to know prior to you actually start purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees really essential to understand these now on there’s a couple of charges there isn’t charges to do with really buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you offer 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay 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 somewhere and withdrawal charges are simply among those options that they have a lot of platforms undoubtedly are complimentary 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 6 months you know depends totally how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy 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 perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize 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 fee 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 fee is there what are they actually giving you in terms of 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 fantastic feature of though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy On Twitter.
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