Not really having the full amount of capital…Bitboy Crypto Polkadot… so with anything that you’re learning about please do study the platform do not just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row purchase these choices because you believe is the right ones for you which being said 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 element that is most likely.
famous for it’s the option to see what other traders are doing incredible 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 money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of options and generally each time they make a trade they purchase 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 costs included really critical you understand what are the expenses of this now with any platform there will be some expense to certainly these are real business 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 no charge sites then might not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be costs on other parts maybe 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 prior to you really start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission charges are complimentary however there are a number of other fees the very first one is withdrawal fees so you can undoubtedly put money 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 on but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering 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 sure that i’m just withdrawing when i absolutely need to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a charge 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 only there’s not an alternative to buy in euros or uk which’s fine that fits 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 great 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 basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually providing 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 offer me us dollars rather you need to pay their charges now the terrific aspect of though when you’ve converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that means 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 additional charges so that’s truly excellent utilizing that part of their website will not certainly restrict you in any way nevertheless we have to understand 2 other charges the first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Bitboy Crypto Polkadot.
You are given lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to pick, then this might be exactly what you require.