Not in fact having the total of capital…Bitboy Crypto Controversy… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at danger and we have 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 buy these choices since you believe is the best ones for you and that being stated let’s dive directly in [Music] so 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.
popular for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that means if for instance 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 also cover is the fees involved really crucial you understand what are the costs of this now with any platform there will be some expense to certainly 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 a few of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really essential to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your products 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 only withdrawing when i absolutely need to now you might state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply one of those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a charge to keep 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 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually offering 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 provide me us dollars rather you need to pay their fees now the great aspect of though when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or convert 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 excellent using 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 charges okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Controversy.
You are provided lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be precisely what you require.