Not actually having the full amount of capital…Bitboy Pluto Alliance… so with anything that you’re discovering please do study the platform do not just presume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually stated they’ve made profit 14 months in a row invest in these choices since you think is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we don’t usually 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 really say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for example 10 of their financial investment portfolio remains 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 really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real 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 absolutely no charge sites then may not charge you for really buying and selling etfs or funds specific commodities specific 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 costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with charges actually essential to understand these now on there’s a number of fees there isn’t costs to do with really buying and selling fine so commission costs are free however there are a number of other costs the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those options that they have a great deal of platforms clearly are complimentary 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 6 months you know depends completely how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option 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 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 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 offer me us dollars rather you have to pay their costs now the excellent aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies 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 extra charges so that’s really good utilizing that part of their website will not definitely restrict you in any way however we need to be aware of 2 other charges the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Pluto Alliance.
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