Not in fact having the full amount of capital…Bitboy Crypto Algorand… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually 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 obviously your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they’ve made earnings 14 months in a row buy these choices since you think is the ideal ones for you and that 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.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really crucial you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies 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 cost websites then might not charge you for in fact buying and selling funds or etfs individual products private 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 reveal you the charges with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary however there are a couple of other fees the very first one is withdrawal charges so you can undoubtedly put money 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 money so you sell your shares you offer your products 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 make certain that i’m just withdrawing when i definitely require to now you might state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a fee to remember the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they really giving you in regards to 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 give me us dollars instead you need to pay their fees now the terrific thing about though when you’ve transformed your money 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 buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent utilizing that part of their site won’t certainly limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Algorand.
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