Not in fact having the total of capital…Bitboy Crypto On Youtube… so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little experiment 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 after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row purchase these options due to the fact that you think is the best ones for you which being said let’s dive straight in [Music] 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 probably.
famous for it’s the alternative to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved actually crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge websites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 actually begin purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs really important to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling okay so commission fees are totally free however there are a couple of other charges the very first one is withdrawal costs so you can obviously put cash 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 on however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a fee to remember the 2nd charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great 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 2 free trade anyone at all this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they in fact providing 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 give me us dollars instead you need to pay their fees now the great feature of though when you have actually converted your cash you do not need 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 initial 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 additional fees so that’s actually excellent utilizing that part of their site won’t certainly limit you in any way however we need to be aware of 2 other charges the first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto On Youtube.
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