Not in fact having the total of capital…Bitboy Crypto Interview… so with anything that you’re finding out about please do study the platform do not just assume because i utilize 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 give that choice also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular 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 simply do something since that person has actually stated they have actually made earnings 14 months in a row invest in these options due to the fact that you think is the best ones for you which being said let’s dive straight 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 probably.
famous for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked 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 likewise cover is the costs included actually crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for really buying and selling funds or etfs individual products 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 fees 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 begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with charges actually important to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission costs are free nevertheless there are a number of other charges the first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you sell 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those choices that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a fee to bear in mind the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really offering 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 offer me us dollars rather you have to pay their fees now the great thing about however when you have actually converted your cash you do not need to invest it right now 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website won’t definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Bitboy Crypto Interview.
You are given lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this might be exactly what you need.