Not actually having the full amount of capital…Bittboy Game… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money 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 investing in genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row purchase these options since you think is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that suggests 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 also cover is the costs involved really vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously 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 absolutely no charge websites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing 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 buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges really important to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a number of other fees the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity 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 say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those choices that they have a lot of platforms obviously are totally free 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 know depends completely how you’re investing but that is a charge to bear in mind the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or 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 using trading two and two open market anyone at all this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have 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 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 offer me us dollars rather you have to pay their costs now the fantastic thing about however when you’ve transformed your cash you do not have to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 fees so that’s actually excellent utilizing that part of their website won’t certainly limit you in any way however we need to understand 2 other fees the very first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Bittboy Game.
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