Not really having the total of capital…Bitboy Vs Crypto Banter… so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you in fact get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they have actually made revenue 14 months in a row purchase these options because you believe is the right ones for you which being stated let’s dive straight 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 element that is most likely.
famous for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved truly important you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies 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 zero cost sites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you in fact begin purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with costs actually essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling all right so commission charges are free however there are a number of other costs the very first one is withdrawal charges 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 in the future however when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those choices that they have a great deal of platforms certainly are totally free 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 once every six months you know depends totally how you’re investing but that is a fee to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually giving you in regards to 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 offer me us dollars rather you need to pay their charges now the fantastic thing about however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of 2 other charges the first being what’s called spread fees alright and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Vs Crypto Banter.
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