Not in fact having the total of capital…Bitboy Crypto Business Insider… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option also so you actually 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 obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row invest in these choices because you think is the best ones for you and that being stated let’s dive directly in [Music] so 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 probably.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included really important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies 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 cost websites then might not charge you for in fact buying and selling funds or etfs specific products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and finally some finest suggestions finest 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 fees truly crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those choices that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a charge to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a great deal 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 cost now when you utilize anybody so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing 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 provide me us dollars rather you need to pay their charges now the terrific thing about however when you have actually converted your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great using that part of their site won’t definitely limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Bitboy Crypto Business Insider.
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