Not really having the total of capital…Bitboy Crypto Videos… so with anything that you’re discovering please do study the platform don’t just assume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you actually get used to the structure of the site 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 risk this is investing we’re doing you’re buying real business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so clearly 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 profit 14 months in a row purchase these options due to the fact that you think is the right 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 incredible we do not typically 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 in fact state i want to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies 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 also cover is the charges involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 cost sites then may not charge you for really buying and selling etfs or funds individual products private 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 sort of costs 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 begin purchasing 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 advanced financier so let’s start with charges truly important to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission costs are complimentary however there are a number of other fees the first one is withdrawal charges so you can clearly 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 wish to withdraw your cash 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may say okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply among those choices 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 once every six months you understand depends completely how you’re investing however that is a fee to remember the 2nd cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s great that suits me.
a lot 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 cost now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their costs now the fantastic thing about though when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website will not definitely restrict you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Videos.
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