Not really having the full amount of capital…Bitboy Filecoin… so with anything that you’re learning about please do study the platform do not just presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you in fact get utilized 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 obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has stated they have actually made earnings 14 months in a row purchase these options because you think is the right ones for you and that being said let’s dive straight in [Music] so the 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.
popular for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with charges actually important to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a number of other fees the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum quantity 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 just withdrawing when i definitely need to now you might state all right that’s quite pricey 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 simply among those alternatives that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact offering 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 say give me us dollars rather you have to pay their costs now the terrific thing about though when you’ve converted your money you do not need to invest it immediately 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 buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Filecoin.
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