Not really having the full amount of capital…Bitboy Crypto Patreon… so with anything that you’re learning about please do study the platform don’t simply presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money 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 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 purchasing real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices because you think is the best ones for you and that being said let’s dive directly 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 most likely.
popular 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 benefit is these copy portfolios are copy trading and so that suggests with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates 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 fees involved truly vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real 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 no cost sites then may not charge you for really buying and selling funds or etfs specific products 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 sort of charges 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 know before you really begin investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with costs really essential to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission charges are free however there are a number of other costs the first one is withdrawal fees so you can clearly 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 however when you want to withdraw your money so you sell your shares you sell your commodities 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 ensure that i’m just withdrawing when i absolutely need to now you may say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a charge to remember the 2nd cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you want 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 haggle with them you can’t go to the bank and say give me us dollars rather you have to pay their charges now the great aspect of however when you have actually converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 costs so that’s truly good utilizing that part of their site won’t certainly restrict you in any way however we need to know two other costs the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Patreon.
You are offered numerous options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to select, then this might be exactly what you need.