Not really having the total of capital…Bitbuy Referral Code… so with anything that you’re finding out about please do study the platform don’t simply assume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row buy these choices because you think is the ideal ones for you and that being stated let’s dive straight 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 choice to see what other traders are doing amazing 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 indicates with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for example 10 of their financial investment portfolio is 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 truly crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee sites then may not charge you for in fact buying and selling funds or etfs individual commodities 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 sort 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 before you actually start buying copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really important to understand these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling fine so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 later on however 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might state alright that’s rather pricey and i get that but 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 lot 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 when every 6 months you know depends entirely how you’re investing however that is a fee to remember the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there 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 rather you have to pay their fees now the fantastic feature of however when you’ve transformed your cash you do not need 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 buy 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 truly good using that part of their website will not certainly restrict you in any way nevertheless we have to understand two other fees the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitbuy Referral Code.
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