Not really having the total of capital…Bitboy Age… so with anything that you’re finding out about please do study the platform do not simply assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you really 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 select to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually said they’ve made earnings 14 months in a row buy these choices due to the fact that you believe is the ideal ones for you and that being stated let’s dive directly 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.
popular for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their 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 involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 zero charge websites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with fees really crucial to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling all right so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you sell your shares you sell your commodities 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 only withdrawing when i absolutely require to now you may say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those choices that they have a lot of platforms clearly are complimentary 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 six months you understand depends totally how you’re investing however that is a charge to bear in mind the second charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact 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 offer me us dollars instead you need to pay their charges now the fantastic thing about however when you have actually converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s really good using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Bitboy Age.
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