Not in fact having the full amount of capital…Bitboy Crypto You… so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you in fact get used 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 risk this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row invest in these options because you think is the best ones for you which being stated let’s dive directly in [Music] so the important 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.
popular for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your cash 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 charges included truly critical you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing 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 in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts maybe 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 show you the costs with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with fees really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling okay so commission fees are totally free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering 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 make certain that i’m only withdrawing when i definitely need to now you might state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a lot of platforms obviously are 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 when every 6 months you understand depends totally how you’re investing however that is a cost to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually 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 state provide me us dollars rather you have to pay their fees now the terrific thing about though when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their website will not certainly limit you in any way however we need to be aware of two other fees the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto You.
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