Not actually having the full amount of capital…Bitboy Crypto Channel… so with anything that you’re discovering please do study the platform don’t just presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you in fact 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 obviously your capital is at risk this is investing we’re doing you’re buying real business if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these options because you believe is the best 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices 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 instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved truly critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real 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 zero charge sites then might not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 in fact start purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees actually important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling all right so commission charges are free however there are a couple of other charges the very first one is withdrawal costs 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 want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount 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 certain that i’m just withdrawing when i definitely require to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those alternatives that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve 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 which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 say provide me us dollars rather you have to pay their charges now the excellent aspect of however when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really good utilizing that part of their website will not definitely restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy Crypto Channel.
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