Not in fact having the full amount of capital…Bitboy Crypto On Cardano… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you in fact get used to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something since that individual has actually stated they have actually made earnings 14 months in a row invest in these options due to the fact that you believe is the ideal ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we do not 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 money we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates 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 likewise cover is the fees involved actually important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 a few of the no charge sites then might not charge you for actually buying and selling etfs or funds individual products private 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 type of charges 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 actually start buying copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with costs actually essential to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling fine so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain 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 in the future however when you want to withdraw your money 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those options that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every six months you understand depends entirely how you’re investing but that is a charge to bear in mind the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever cost 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 really giving 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 state offer me us dollars rather you have to pay their charges now the great aspect of however when you have actually transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means 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 certainly limit you in any way however we need to understand two other costs the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Crypto On Cardano.
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