Not really having the total of capital…Bitboy Crypto Patreon… so with anything that you’re learning more about please do study the platform don’t just assume since i utilize 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 too so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually stated they have actually made revenue 14 months in a row purchase these choices since you think is the right ones for you and that 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial 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 costs included really critical you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero charge websites then might not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges actually essential to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission fees are complimentary however there are a couple of other costs the first one is withdrawal fees so you can undoubtedly put cash 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 later however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state all right that’s rather costly 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 simply one of those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a fee to keep in mind the second charge that i have actually discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent 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 two free trade anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost 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 offer me us dollars instead you have to pay their charges now the fantastic feature of however when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really good using that part of their site won’t certainly limit you in any way nevertheless we need to know two other charges the very first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Bitboy Crypto Patreon.
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