Not really having the full amount of capital…Bitboy Crypto Referral Code… so with anything that you’re learning more about please do study the platform do not simply assume 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 consider that option 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 threat this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really critical you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for actually buying and selling etfs or funds specific products individual 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 type of fees 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 before you really begin investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with costs truly crucial to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling alright so commission charges are totally free however there are a number of other costs the first one is withdrawal costs so you can certainly put money 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 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 understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those choices that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there 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 haggle with them you can’t go to the bank and state offer me us dollars rather you need to pay their costs now the terrific aspect of though when you have actually transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you purchase 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 really good utilizing that part of their website won’t certainly restrict you in any way however we need to know two other costs the first being what’s called spread charges 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 Referral Code.
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