Not actually having the full amount of capital…Bitboy Crypto Icp… so with anything that you’re learning more about please do study the platform don’t simply presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you in fact get used 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 of course your capital is at threat this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not just do something since that individual has actually stated they have actually made profit 14 months in a row invest in these choices since you think is the ideal 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for example 10 of their financial 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 involved really vital you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real 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 zero fee websites 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 possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you really start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 make sure that i’m just withdrawing when i definitely need to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends totally how you’re investing however that is a charge to keep in mind the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact offering you in terms of 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 rather you have to pay their charges now the excellent feature of however when you’ve transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their website will not certainly limit you in any way however we have to understand two other fees the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto Icp.
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