Not in fact having the full amount of capital…Bittboy Hellcat… so with anything that you’re finding out about please do study the platform don’t just assume due to the fact that i use 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 choice too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they have actually made revenue 14 months in a row buy these options because you believe is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes 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 extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be imitated 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 also cover is the charges involved really important you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost websites then might not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
there’ll be costs on other parts possibly 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 before you actually start purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges really important to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling all right so commission fees are free nevertheless there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money 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 in the future but when you wish to withdraw your money so you offer your shares you sell your products 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms certainly are free 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 understand depends completely how you’re investing however that is a cost to bear in mind the second fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever charge 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 really 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 instead you need to pay their charges now the terrific thing about however when you’ve converted your cash 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 indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their website will not certainly limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Bittboy Hellcat.
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