Not really having the full amount of capital…Bitboy Crypto Live… so with anything that you’re discovering please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this particular video we’re talking 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 simply do something because that person has actually said they have actually made revenue 14 months in a row buy these options because 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for instance 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 costs included really critical you understand what are the costs of this now with any platform there will be some cost to obviously these are real companies 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 charge websites then might not charge you for actually buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 before you in fact begin buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with costs really important to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling fine so commission charges are complimentary however there are a number of other charges the very first one is withdrawal costs so you can clearly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer your shares you offer 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 make sure that i’m only withdrawing when i definitely require to now you might say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those options that they have a great deal of platforms clearly are complimentary 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 when every 6 months you understand depends entirely how you’re investing but that is a cost to keep in mind the second 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 purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow 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 anyone so if you’re utilizing trading two and two open market anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 provide me us dollars rather you need to pay their costs now the excellent feature of though when you have actually converted your money 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 transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their site will not definitely restrict you in any way however we have to know 2 other costs the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Bitboy Crypto Live.
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