Not really having the total of capital…Bittboy Real Name… so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option as well so you really get used 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 obviously your capital is at risk 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 people’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row buy these options since you believe is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually state i want to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates 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 also cover is the fees included really important you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 some of the zero cost websites then might not charge you for in fact buying and selling etfs or funds private commodities individual 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 type of fees 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 before you actually begin purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really crucial to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can certainly 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 later on however when you wish to withdraw your money so you sell your shares you offer 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 absolutely require to now you might say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those choices that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a charge to bear in mind the second charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and 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 2 open market anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact providing you in terms of 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 instead you have to pay their costs now the great feature of though when you’ve transformed your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 fees so that’s actually good using that part of their website won’t certainly limit you in any way however we have to be aware of two other charges the first being what’s called spread costs okay and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bittboy Real Name.
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