Not actually having the full amount of capital…Bitboy Crypto Ren… so with anything that you’re learning more about please do study the platform don’t simply assume because i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has said they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that being stated let’s dive directly in [Music] so 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 probably.
famous for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved truly critical you understand what are the costs of this now with any platform there will be some cost to obviously 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 some of the zero fee websites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges 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 finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually crucial to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine so commission charges are totally free however there are a number of other costs the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you offer 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 of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those options that they have a great deal of platforms clearly are free to do such things has this five 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 understand depends totally how you’re investing but that is a fee to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand 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 terms of 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 state give me us dollars rather you need to pay their fees now the great thing about though when you’ve converted your money you do not have 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 initial 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 extra charges so that’s truly excellent utilizing that part of their site won’t definitely restrict you in any way however we need to know 2 other fees the first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Ren.
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