Not actually having the full amount of capital…Bitboy Crypto Logo… so with anything that you’re finding out about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that option also so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row invest in these options since you believe is the ideal ones for you and that 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.
popular for it’s the choice to see what other traders are doing incredible we do not generally 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 want to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly 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 some of the no cost sites then might not charge you for in fact buying and selling funds or etfs private products 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 kinds of costs 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 know prior to you in fact start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put money in now if you remain 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 in the future however when you want to withdraw your cash so you offer your shares you offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options 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 largely it can be perhaps even once a year when every six months you understand depends totally how you’re investing however that is a cost to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase 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 purchasing and even some crypto so i’m great 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 2 open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there 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 say give me us dollars rather you have to pay their fees now the terrific aspect of however when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial 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 additional fees so that’s actually great using that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Logo.
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