Not actually having the full amount of capital…Bitboy Crypto Hellcat… 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 utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option also so you in fact get utilized 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 investing in real business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row invest in these options since you believe is the right ones for you and that being stated let’s dive straight in [Music] so the 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 probably.
well-known for it’s the choice to see what other traders are doing amazing we do not 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 want to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their 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 fees included actually vital you understand what are the expenses of this now with any platform there will be some cost to certainly 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 a few of the absolutely no cost websites then may not charge you for actually buying and selling etfs or funds individual products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with costs really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling alright so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good 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 2 open market anybody this is basic they have i expect stuck with 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 cost is there what are they actually offering 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 provide me us dollars instead you have to pay their fees now the great feature of though when you have actually transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary 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 extra fees so that’s really excellent utilizing that part of their site will not certainly limit you in any way however we need to be aware of two other charges the first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Hellcat.
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