Not in fact having the total of capital…Bitboy Crypto Tiktok… so with anything that you’re discovering please do study the platform do not simply presume since i use 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 used 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 naturally your capital is at threat 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 cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row purchase these choices because you believe is the ideal ones for you which being stated let’s dive directly 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and generally each time they make a trade they purchase they offer whatever they do your cash will be imitated 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 actually critical you understand what are the costs of this now with any platform there will be some cost to certainly 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 no charge sites then may not charge you for in fact buying and selling funds or etfs individual products private stocks.
there’ll be fees 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 understand prior to you actually start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs truly crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission fees are free nevertheless there are a couple of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re 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 in the future but when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just among those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually giving you in terms of 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 offer me us dollars instead you have to pay their charges now the terrific thing about though when you’ve transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial 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 extra charges so that’s really excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to understand two other costs the first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Bitboy Crypto Tiktok.
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