Not in fact having the total of capital…Bittboy Pocket Go Firmware… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the site 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 threat this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has actually said they have actually made revenue 14 months in a row invest in these options since you believe is the right ones for you which being said 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’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they offer whatever they do your money will be mimicked 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 costs involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real 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 charge sites then may not charge you for actually buying and selling funds or etfs private commodities private 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 type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees actually important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can clearly put cash in now if you’re 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 sell 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say alright 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 somewhere and withdrawal charges are just one of those options that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends totally how you’re investing however that is a cost to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they really offering 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 offer me us dollars rather you need to pay their costs now the great thing about however when you’ve transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we need to be aware of 2 other fees the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bittboy Pocket Go Firmware.
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