Not really having the total of capital…Bitboy Crypto Wallet… so with anything that you’re discovering please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you really get utilized 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 obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual has said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being stated let’s dive straight 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 aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies 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 charges included truly crucial you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost websites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 before you really begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees really important to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re 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 but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount 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 just withdrawing when i absolutely need to now you might state alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a cost to bear in mind the second cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits 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 good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they really giving 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 say provide me us dollars rather you have to pay their fees now the excellent thing about however when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly good utilizing that part of their website won’t certainly limit you in any way nevertheless we have to know two other costs the first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Wallet.
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