Not really having the full amount of capital…Bitboy Crypto Kennesaw Ga… so with anything that you’re finding out about please do study the platform do not simply assume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider 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 naturally your capital is at danger this is investing we’re doing you’re buying real companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being stated let’s dive directly 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 option to see what other traders are doing extraordinary 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 implies with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 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 involved really crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee websites then may not charge you for really buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts maybe 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 show you the costs with in particular in this video the next would be things to know prior to you really start buying copy trading or copy portfolios and lastly some best guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with charges truly essential to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling okay so commission costs are free however there are a number of other charges the first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you sell your shares you sell your products 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 obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends completely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase 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 great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact providing 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 say offer me us dollars rather you need to pay their charges now the excellent aspect of though when you have actually converted your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their website won’t definitely restrict you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread fee as i’m going to show you Bitboy Crypto Kennesaw Ga.
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