Not actually having the full amount of capital…Bitboy Crypto Jobs… so with anything that you’re learning more about please do study the platform don’t simply assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you actually get used to the structure of the site and then when you’re ready to utilize your own cash 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 companies if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they’ve made profit 14 months in a row purchase these choices because you believe is the right ones for you which being stated let’s dive directly in [Music] so the important 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 most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then might not charge you for actually buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 in fact start purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually important to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission fees are totally free however there are a couple of other costs 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 immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might state 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 fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge 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 say give me us dollars rather you need to pay their charges now the terrific feature of though when you’ve transformed your cash 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 implies the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually good utilizing that part of their site will not certainly restrict you in any way however we need to be aware of 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Jobs.
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