Not in fact having the full amount of capital…Bitboy Today… so with anything that you’re finding out about please do study the platform do not just presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they’ve made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you which being said let’s dive straight in [Music] so the important 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 choice 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 implies with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really important you understand what are the costs of this now with any platform there will be some cost to clearly 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 charge sites then might not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you really begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really crucial to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling all right so commission charges are complimentary however there are a couple of other fees the first one is withdrawal charges so you can certainly 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 but when you wish to withdraw your money so you offer your shares you offer your products 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 knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state all right that’s rather 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 one of those choices that they have a lot of platforms clearly 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 once 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 fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know 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 say give me us dollars instead you need to pay their fees now the great aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means 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 fees so that’s really great utilizing that part of their site won’t certainly limit you in any way however we have to understand 2 other costs the very first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Today.
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