Not actually having the full amount of capital…Bitboy Crypto Holdings… so with anything that you’re learning more about please do study the platform do not simply presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you really 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 buying real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that individual has said they’ve made revenue 14 months in a row buy these options since you think is the ideal ones for you which 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 most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not normally 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 actually state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates 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 likewise cover is the fees included actually crucial you understand what are the costs 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 involved and even a few of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs individual commodities 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 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 understand before you actually begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges truly essential to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you’re 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 sell your commodities whatever you’re selling the minimum quantity 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 make sure that i’m only withdrawing when i definitely require to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those choices 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 perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a cost to remember the second charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that suits 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two open market anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and state offer me us dollars instead you have to pay their charges now the fantastic thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their website will not definitely limit you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Bitboy Crypto Holdings.
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