Not really having the full amount of capital…Bitboy Crypto Kennesaw Ga… so with anything that you’re discovering please do study the platform do not simply assume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option too so you actually get used to the structure of the website 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 pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the right ones for you which being said let’s dive straight in [Music] so the important 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies 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 likewise cover is the fees included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then may not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission fees are totally free however there are a couple of other charges 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 later on however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you know depends completely how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches 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 great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually providing you in regards to 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 offer me us dollars instead you need to pay their fees now the great thing about though when you have actually transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really great utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Bitboy Crypto Kennesaw Ga.
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