Not really having the total of capital…Bitboy Crypto Facebook… so with anything that you’re learning about please do study the platform do not simply assume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row invest in these choices due to the fact that you think is the best ones for you and that being said 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 probably.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that means 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 charges included truly crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business 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 no cost websites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees actually essential to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission costs are free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can certainly 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 but when you want to withdraw your cash so you offer 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 five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the second charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they really providing 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 say give me us dollars instead you have to pay their fees now the excellent thing about though when you’ve converted 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 indicates the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really great using that part of their site won’t certainly limit you in any way however we have to be aware of 2 other fees the first being what’s called spread charges fine and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Crypto Facebook.
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