Not in fact having the full amount of capital…Bitboy Nft Wax… so with anything that you’re discovering please do study the platform do not just presume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has said they’ve made profit 14 months in a row buy these choices because you think is the right ones for you which being said let’s dive straight in [Music] so the important 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 don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies 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 actually important you understand what are the expenses of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs 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 in fact start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission fees are totally free however there are a couple of other charges the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
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 offer your shares you sell 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 naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a cost to remember the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only 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 purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 rather you have to pay their costs now the great aspect of though when you’ve converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent using that part of their site won’t definitely restrict you in any way nevertheless we have to know 2 other charges the very first being what’s called spread charges alright and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Nft Wax.
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