Not really having the total of capital…Bitboy Crypto Academy… so with anything that you’re discovering please do study the platform do not just assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that option also so you really get used to the structure of the website 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 threat this is investing we’re doing you’re purchasing genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously 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 profit 14 months in a row purchase these options because you believe is the ideal ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the choice 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 and so that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for example 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 costs involved really vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies 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 no cost websites then may not charge you for really buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 understand before you in fact begin investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges truly crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission fees are free however there are a couple of other fees the very 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 however when you wish to withdraw your money so you sell your shares you offer 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among 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 6 months you know depends completely how you’re investing but that is a cost to bear in mind the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they really 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 state give me us dollars rather you have to pay their fees now the great aspect of though when you have actually converted your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary 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 costs so that’s truly good using that part of their website won’t definitely restrict you in any way however we have to know 2 other costs the first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Academy.
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