Not really having the full amount of capital…Bitboy Crypto Cardano… so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you really get used 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 risk this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row purchase these choices because you believe is the right ones for you which being said let’s dive directly 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 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 do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their investment portfolio remains 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 comprehend what are the costs of this now with any platform there will be some cost to obviously 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 some of the zero charge sites then may not charge you for actually buying and selling funds or etfs private commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with costs actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling okay so commission charges are complimentary however there are a number of other costs the first one is withdrawal costs so you can certainly put cash 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 want to withdraw your cash so you sell your shares you offer your commodities 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 understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of 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 mainly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 state give me us dollars rather you need to pay their charges now the excellent thing about though when you have actually transformed your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 extra charges so that’s really good using that part of their website won’t definitely limit you in any way however we have to be aware of 2 other charges the first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Cardano.
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