Not really having the full amount of capital…Bitboy Crypto Staff… so with anything that you’re learning more about please do study the platform do not just assume because i utilize it that you can use 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 in fact get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the right 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 element that is most likely.
popular for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved truly crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee sites then may not charge you for in fact buying and selling funds or etfs specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually essential to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission fees are complimentary however there are a number of other fees the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those choices that they have a great deal of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends completely how you’re investing however that is a charge to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact giving 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 need to pay their charges now the fantastic thing about however when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 charges so that’s truly good utilizing that part of their website won’t certainly limit you in any way however we have to know 2 other charges the first being what’s called spread costs 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 Staff.
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