Not actually having the total of capital…Bitboy Crypto Instagram… so with anything that you’re finding out about please do study the platform don’t simply presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you really get used to the structure of the website 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 investing in real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they have actually made earnings 14 months in a row buy these options because you believe is the best ones for you which 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 element that is probably.
popular for it’s the alternative to see what other traders are doing unbelievable we do not 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 really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their 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 charges included truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling etfs or funds specific commodities private stocks.
there’ll be fees 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 charges with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission charges are free however there are a number of other charges the first one is withdrawal fees so you can obviously 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 money so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those choices that they have a lot of platforms certainly are complimentary 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 when every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck to whatever cost 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 charge exists what are they actually 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 state give me us dollars instead you need to pay their costs now the terrific aspect of though when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Instagram.
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