Not really having the full amount of capital…Bitboy Crypto Quant… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they have actually made earnings 14 months in a row invest in these options since you think is the ideal ones for you and that being stated 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 belongs to social trading which is one aspect that is probably.
well-known for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically 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 investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really vital you understand 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 a few of the absolutely no charge websites then may not charge you for in fact buying and selling etfs or funds private products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 prior to you actually start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with fees truly important to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a number of other fees the first one is withdrawal fees so you can obviously put cash 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 want to withdraw your cash 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those choices 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 mostly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to remember the second cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
a lot 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 anyone so if you’re using trading two and two free trade anyone at all this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know 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 regards to 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 terrific feature of however when you’ve transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their website will not certainly restrict you in any way however we have to be aware of 2 other charges the first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to show you Bitboy Crypto Quant.
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