Not actually having the total of capital…Bitboy Crypto Holochain… so with anything that you’re learning about please do study the platform don’t simply presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that individual has said they have actually made profit 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your money will be simulated 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 money in so we’re going to likewise cover is the costs involved really critical you comprehend what are the costs 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 some of the no charge sites then might not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand before you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling okay so commission fees are complimentary however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put cash 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 on however when you want to withdraw your money so you sell 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 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely need 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 need to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a cost to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually 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 state give me us dollars rather you have to pay their fees now the great thing about however when you’ve converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent utilizing that part of their website won’t definitely restrict you in any way nevertheless we have to be aware of two other costs the first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Holochain.
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