Not really having the full amount of capital…Bitboy Crypto Omi… so with anything that you’re finding out about please do study the platform don’t just assume since 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 as well so you really 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger 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 purchase these options because you think is the best ones for you and that being stated let’s dive directly 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 probably.
popular for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their 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 fees involved really important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 a few of the zero charge websites then may not charge you for in fact buying and selling funds or etfs individual products 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 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 understand before you really begin investing in 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 kick off with costs really important to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal costs 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 later on but when you want to withdraw your cash so you offer 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 five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say alright that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to bear in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there 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 haggle 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 aspect of though when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really great utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to understand 2 other fees the first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Omi.
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