Not really having the total of capital…Bitboy Hedera… so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you believe is the best ones for you and that being said 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that implies 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 charges involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 no fee sites then may not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts maybe 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 show you the charges with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees truly important to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission costs are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount 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 sure that i’m only withdrawing when i definitely require to now you may say all right 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 someplace and withdrawal charges are simply among those alternatives that they have a great deal of platforms clearly are complimentary 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 as soon as every 6 months you know depends completely how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy 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 or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually giving you in regards to 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 offer me us dollars rather you have to pay their fees now the excellent aspect of however 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 means 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 extra costs so that’s really excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Hedera.
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