Not in fact having the full amount of capital…Bitboy Crypto Algorand… so with anything that you’re finding out about please do study the platform don’t just assume because i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you actually get used to the structure of the website and after that when you’re ready to use 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 buying real business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made profit 14 months in a row purchase these choices because you believe is the best ones for you which 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 aspect that is probably.
popular for it’s the option to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for example 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 also cover is the costs included truly important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real 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 specific commodities specific 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 show you the charges with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges really crucial to comprehend these now on there’s a number of fees there isn’t charges to do with actually buying and selling all right so commission fees are complimentary however there are a couple of other costs the very first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer your shares you offer your products whatever you’re selling 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 knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends completely how you’re investing but that is a fee to remember the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s great that matches me.
a great deal 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 fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually giving you in terms of 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 need to pay their costs now the fantastic thing about however when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that means 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 using that part of their website will not certainly restrict you in any way however we need to understand 2 other fees the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Crypto Algorand.
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