Not in fact having the full amount of capital…Bitboy Crypto Staff… so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you in fact get used 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 of course your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row invest in these options since you believe is the best ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked 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 costs included actually crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 prior to you in fact start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission charges are free nevertheless there are a couple of other charges the first one is withdrawal charges so you can obviously put cash in now if you remain 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 on but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state okay that’s rather pricey 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 one of those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy 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 buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they really providing 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 state give me us dollars instead you have to pay their costs now the terrific thing about however when you’ve converted your money you do not need to invest it right now 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 extra costs so that’s really excellent utilizing that part of their website won’t certainly restrict you in any way however we need to understand two other charges the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy Crypto Staff.
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