Not actually having the total of capital…Bitboy Crypto Interview… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge sites then may not charge you for actually buying and selling etfs or funds private commodities 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 kinds 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 know prior to you really begin purchasing copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually important to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission fees are free however there are a couple of other costs the very first one is withdrawal fees so you can clearly put money 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 later but when you want to withdraw your cash so you offer 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 knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state okay 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 costs are simply among those alternatives that they have a great deal of platforms obviously are free 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 as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they actually offering 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 offer me us dollars instead you have to pay their charges now the great feature of though when you have actually converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the initial 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 additional costs 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 fees the very first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto Interview.
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