Not actually having the total of capital…Bitboy Crypto Fantom… so with anything that you’re finding out about please do study the platform don’t just assume because i utilize 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 option too so you actually get utilized 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 naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something because that person has stated they’ve made profit 14 months in a row purchase these options due to the fact that you think is the best ones for you and that 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.
popular for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be simulated 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 cash in so we’re going to also cover is the fees included really critical you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost websites then might not charge you for actually buying and selling etfs or funds 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 sort of fees 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 actually start buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with costs really essential to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling fine so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can undoubtedly 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 on but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity 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 ensure that i’m just withdrawing when i definitely need to now you may say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing however that is a fee to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have i expect stuck to whatever fee 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 giving 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 say give me us dollars instead you have to pay their fees now the great aspect of however when you have actually converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies 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 fees so that’s really good using that part of their website won’t definitely limit you in any way however we have to understand two other costs the first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Fantom.
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