Not actually having the full amount of capital…Bitboy Crypto On Youtube… so with anything that you’re discovering please do study the platform don’t simply presume since i use 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 consider that option as well so you in fact get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually stated they’ve made profit 14 months in a row invest in these choices since you think is the best ones for you which being said let’s dive directly in [Music] so the important 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 alternative to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included really crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business 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 zero charge websites then might not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with fees truly essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a number of other charges the first one is withdrawal costs so you can obviously put cash 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 but when you want to withdraw your money 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 certain that i’m only withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those options that they have a lot of platforms certainly 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 six months you understand depends totally how you’re investing however that is a charge to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent 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 i expect stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they actually giving you in regards to 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 instead you need to pay their charges now the excellent feature of though when you’ve transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great using that part of their site will not definitely limit you in any way however we have to be aware of two other costs the first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto On Youtube.
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