Not actually having the total of capital…Bitboy Crypto Matic… so with anything that you’re discovering please do study the platform do not just presume because i use it that you can use it right away 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 utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at risk and we have 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 invest in these choices since you believe is the ideal ones for you which being stated let’s dive straight in [Music] so 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 aspect that is probably.
famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges included truly crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge sites then might not charge you for really buying and selling etfs or funds specific commodities individual 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 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 prior to you actually begin buying copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with fees actually important to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only 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 fees are simply one of those options that they have a great deal of platforms certainly are free 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 when every six months you understand depends entirely how you’re investing however that is a cost to remember the second fee that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits 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 anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you know if you wish 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 state offer me us dollars instead you need to pay their costs now the fantastic thing about though when you have actually transformed your money you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent using that part of their site won’t definitely limit you in any way however we have to know two other charges the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread charge as i’m going to show you Bitboy Crypto Matic.
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