Not actually having the total of capital…Bitboy Crypto Dogecoin… so with anything that you’re learning about please do study the platform do not just assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get utilized 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 threat this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has 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] 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee sites then might not charge you for in fact buying and selling funds or etfs individual commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 know prior to you really begin investing in copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with charges really important to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly 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 but when you wish to withdraw your cash so you sell your shares you sell your products 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those options that they have a lot of platforms obviously 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 once every six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they really offering 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 state provide me us dollars instead you need to pay their charges now the great thing about though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary 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 additional fees so that’s truly good utilizing that part of their site won’t certainly limit you in any way nevertheless we need to understand 2 other costs the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto Dogecoin.
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