Not in fact having the total of capital…Bitboy Crypto Office… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you actually get used 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 risk this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row buy these choices since you think 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 element that is probably.
famous for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked 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 money in so we’re going to likewise cover is the charges included actually crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 may not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges truly essential to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put money 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 wish to withdraw your cash so you offer 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms obviously are free 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 once every 6 months you know depends completely how you’re investing but that is a charge to remember the second charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine 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 cost now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really 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 provide me us dollars instead you have to pay their fees now the fantastic feature of though when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money 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 additional fees so that’s actually excellent using that part of their website won’t certainly limit you in any way however we have to know 2 other costs the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Crypto Office.
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