Not really having the total of capital…Bitboy Crypto Kraken… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too 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 of course your capital is at danger this is investing we’re doing you’re investing in genuine companies 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 since that person has actually said they’ve made earnings 14 months in a row purchase these options because you think is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated 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 also cover is the fees included truly crucial 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 involved and even some of the zero fee websites then might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts possibly 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 understand before you really start investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really important to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling fine so commission charges are free however there are a couple of other fees the first one is withdrawal fees so you can certainly put cash in now if you remain 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 in the future but when you want to withdraw your money so you offer 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those options that they have a great deal of platforms certainly are free 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 as soon as every 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and say offer me us dollars rather you need to pay their costs now the fantastic thing about though when you’ve transformed your money 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 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 using that part of their site won’t definitely restrict you in any way however we need to know 2 other costs the first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto Kraken.
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