Not really having the total of capital…Bitboy Trading… so with anything that you’re discovering please do study the platform don’t simply presume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you really get utilized 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 naturally your capital is at danger this is investing we’re doing you’re buying real business if you choose to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually stated they’ve made earnings 14 months in a row invest in these choices due to the fact that you think is the ideal 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 belongs to social trading which is one element that is most likely.
well-known for it’s the choice 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 therefore that implies with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of options and generally every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies 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 absolutely no charge websites then might not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be fees 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 reveal you the fees with in particular in this video the next would be things to know prior to you in fact begin purchasing 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 advanced investor so let’s kick off with costs actually essential to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission fees are free however there are a couple of other charges the very first one is withdrawal fees so you can certainly put money in now if you’re 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 want to withdraw your money 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just 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 need to charge fees somewhere and withdrawal charges are just one of those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing but that is a fee to remember the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck with whatever cost 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 cost 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 bargain with them you can’t go to the bank and say give me us dollars rather you need to pay their charges now the excellent feature of though when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their website won’t certainly limit you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Trading.
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