Not actually having the full amount of capital…Bitboy Ada Pool… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option also so you in fact get used to the structure of the site and then when you’re ready to use 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 purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has said they’ve made earnings 14 months in a row buy these options since you think is the right ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing amazing we don’t normally 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 money we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for instance 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 likewise cover is the charges included actually important you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business 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 no charge sites then may not charge you for actually buying and selling etfs or funds specific products private 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 charges with in particular in this video the next would be things to understand prior to you really begin investing in copy trading or copy portfolios and lastly some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission fees are free however there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly 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 charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’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 utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i suppose stuck to whatever charge 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 charge is there what are they actually providing 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 give me us dollars rather you need to pay their charges now the fantastic thing about however when you have actually transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent using that part of their site won’t certainly restrict you in any way nevertheless we have to know 2 other costs the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Ada Pool.
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