Not in fact having the total of capital…Bitboy Wsop… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the website 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 threat this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they have actually made earnings 14 months in a row purchase these options since you think is the right ones for you and that being stated let’s dive directly 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 belongs to social trading which is one element that is probably.
famous for it’s the option 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 and so that implies with our cash we can in fact state 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 purchase they sell whatever they do your cash will be simulated with it so that suggests if for example 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 likewise cover is the fees included truly vital you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee sites then might not charge you for really buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission costs are totally free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can obviously 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 in the future however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those options that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a cost to remember the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway 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 use anybody so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really providing you in terms of 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 provide me us dollars rather you have to pay their charges now the terrific aspect of however when you have actually transformed your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website won’t certainly restrict you in any way nevertheless we need to know two other fees the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to show you Bitboy Wsop.
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