Not actually having the total of capital…Bitboy Crypto Instagram… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that 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 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 naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking about how to copy other people’s investments with your money so clearly your capital is at risk 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 buy these choices because 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for example 10 of their 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 costs included truly critical you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee websites then might not charge you for actually buying and selling etfs or funds specific commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 know before you actually start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission costs are free nevertheless there are a couple of other charges the first one is withdrawal charges so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a great deal of platforms clearly are complimentary 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 when every 6 months you know depends completely how you’re investing however that is a fee to keep in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really giving 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 instead you need to pay their charges now the excellent aspect of though when you have actually converted your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies 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 additional costs so that’s actually great utilizing that part of their site will not certainly restrict you in any way nevertheless we need to know two other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Instagram.
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