Not actually having the total of capital…Bitboy Crypto Digibyte… so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row buy these options due to the fact that you believe is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for instance 10 of their 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 actually vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 zero cost websites then might not charge you for in fact buying and selling etfs or funds specific commodities individual stocks.
there’ll be costs on other parts maybe 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 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 finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly important to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission charges are totally free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can certainly put money in now if you remain 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 later however when you wish to withdraw your cash so you offer your shares you offer your commodities 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those choices that they have a lot of platforms undoubtedly are totally 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 six months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that fits me.
a lot 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 charge now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact 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 state give me us dollars rather you have to pay their fees now the excellent feature of though when you’ve converted your cash you do not have to invest it right away that dollar worth can being 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 additional costs so that’s really good utilizing that part of their site will not certainly restrict you in any way however we have to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto Digibyte.
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