Not actually having the total of capital…Bitboy Crypto Face… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the site and then when you’re ready to use your own money 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 pick to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they have actually made earnings 14 months in a row purchase these options since 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests 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 likewise cover is the costs involved really critical you understand what are the expenses of this now with any platform there will be some expense to certainly 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 no fee websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be costs on other parts possibly 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 reveal you the costs with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with charges really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling okay so commission costs are free nevertheless there are a couple of other charges the first one is withdrawal fees so you can obviously put cash in now if you’re 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 but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity 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 only withdrawing when i absolutely require to now you may say okay 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 fees are just one of those choices that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway 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 fee now when you use anybody so if you’re using trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually giving you in regards to 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 offer me us dollars instead you have to pay their costs now the fantastic thing about though when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates 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 charges so that’s really excellent utilizing that part of their site will not definitely limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bitboy Crypto Face.
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