Not actually having the full amount of capital…Bitboy Crypto Facebook… so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get utilized 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 risk this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row purchase these choices because you believe is the right ones for you which being stated let’s dive straight 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 belongs to social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved actually important you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real companies 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 in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts maybe 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 before you actually begin buying copy trading or copy portfolios and finally some finest recommendations 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 fees actually essential to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission costs are totally free however there are a number of other costs the very first one is withdrawal costs so you can obviously 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 money so you offer your shares you offer your commodities whatever you’re offering 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 just withdrawing when i definitely require to now you might say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are just one of those options that they have a great deal of platforms certainly are complimentary to do such things has this five 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 entirely how you’re investing but that is a fee to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really offering 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 give me us dollars instead you have to pay their costs now the excellent aspect of though when you have actually converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site won’t definitely limit you in any way nevertheless we need to know 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Facebook.
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