Not actually having the full amount of capital…Bitboy Kucoin… so with anything that you’re discovering please do study the platform do not just assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row buy these options because you think is the ideal ones for you which being stated let’s dive straight in [Music] The 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.
well-known for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously 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 no charge sites then may not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 before you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary however there are a number of other fees the first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s instantly 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 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 naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those options that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing however that is a charge to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine 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 charge now when you use anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee is there 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 say give me us dollars rather you need to pay their charges now the fantastic aspect of however when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other charges the first being what’s called spread fees alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Kucoin.
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