Not in fact having the total of capital…Bitboy Trading… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the site and after that when you’re ready to utilize 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 companies if you pick to in this particular video we’re speaking about how to copy other people’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they have actually made profit 14 months in a row buy these choices since you think is the ideal ones for you and that being said let’s dive directly in [Music] so the 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 probably.
well-known for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests 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 actually crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost websites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 understand prior to you really begin purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling alright so commission fees are complimentary however there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say okay that’s rather expensive 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 just one of those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a fee to bear 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 a choice to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they actually providing 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 give me us dollars instead you need to pay their fees now the terrific aspect of though 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 suggests the initial 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 additional costs so that’s really great utilizing that part of their website will not definitely limit you in any way however we have to know two other charges the very first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Trading.
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