Not really having the full amount of capital…Bitboy Addax… so with anything that you’re finding out about please do study the platform do not just assume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the ideal ones for you which being said let’s dive directly in [Music] 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 aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money 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 cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can obviously put money in now if you’re 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 however when you wish to withdraw your cash so you offer your shares you sell 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are complimentary 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 understand depends completely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy 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 excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really giving you in terms of 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 provide me us dollars instead you have to pay their costs now the excellent aspect of though when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their site will not certainly restrict you in any way nevertheless we need to know 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bitboy Addax.
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