Not really having the full amount of capital…Bitboy Crypto Pluto Alliance… so with anything that you’re learning about please do study the platform don’t just presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that option too so you actually get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they have actually made revenue 14 months in a row buy these choices since you think is the right ones for you which being said let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending 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 amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 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 also cover is the costs included truly important you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies 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 no cost sites then might not charge you for really buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 prior to you in fact begin buying copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges really crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling fine so commission costs are totally free however there are a number of other fees the first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer 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 may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those options that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends completely how you’re investing however that is a fee to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars just 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 even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact 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 provide me us dollars instead you need to pay their costs now the excellent aspect of though when you have actually transformed your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert 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 excellent utilizing that part of their website won’t definitely limit you in any way however we have to understand 2 other costs the first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Pluto Alliance.
You are offered many alternatives with this software application 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 pick, then this may be exactly what you need.