Not in fact having the total of capital…Bitboy Crypto Matic… so with anything that you’re learning about please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you actually get used to the structure of the site and then when you’re ready to use your own money 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 genuine business if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually said they’ve made revenue 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 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 belongs to social trading which is one aspect that is most likely.
popular 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 benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their 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 truly important you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually important to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling all right so commission fees are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can obviously 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 want to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you may state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among those options that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing however that is a cost to remember the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of have 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 giving you in terms of 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 offer me us dollars rather you have to pay their fees now the fantastic thing about however when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform 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 excellent using that part of their site will not certainly restrict you in any way nevertheless we need to know 2 other fees the very first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Matic.
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