Not in fact having the full amount of capital…Bitboy Crypto Ren… so with anything that you’re learning about please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you really get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has actually said they’ve made earnings 14 months in a row buy these options since you believe is the best ones for you which being stated 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 most likely.
popular for it’s the choice to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included actually crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee websites then might not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing 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 know prior to you actually begin investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly important to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling okay so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can certainly 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 but when you want to withdraw your money so you offer 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 naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say fine that’s rather 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 charges are simply one of those options 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 largely it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative 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 charge now when you use anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 say provide me us dollars instead you need to pay their costs now the great thing about though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their website will not definitely restrict you in any way however we have to know two other costs the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Bitboy Crypto Ren.
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