Not in fact having the full amount of capital…Bitboy Crypto Exchange… so with anything that you’re learning about please do study the platform don’t just presume because i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you actually get utilized to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row purchase these options since you believe is the best ones for you which being said let’s dive straight in [Music] The 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 element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we do not normally 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 actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be imitated 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 cash in so we’re going to also cover is the charges included actually vital you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 some of the absolutely no cost sites then may not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be charges on other parts possibly 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 show you the fees with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly essential to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling okay so commission fees are free however there are a number of other fees the very first one is withdrawal fees so you can certainly 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 in the future but when you want to withdraw your cash so you sell 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 understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those choices that they have a lot of platforms clearly are totally free 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 totally how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway 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 utilize anybody so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type 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 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 say give me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the preliminary 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 charges so that’s actually excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy Crypto Exchange.
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