Not in fact having the total of capital…Bitboy Crypto Portfolio… so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has stated they’ve made earnings 14 months in a row buy these options since you think is the best ones for you which being stated let’s dive straight 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.
popular for it’s the option to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for in fact buying and selling etfs or funds private commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 before you actually begin purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs actually crucial to comprehend these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal costs so you can obviously 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 on but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say all right 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 fees are simply among those options that they have a great deal of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing but that is a charge to remember the second cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just 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 buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving 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 give me us dollars instead you have to pay their charges now the terrific thing about however when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means 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 fees so that’s actually great using that part of their site won’t certainly restrict you in any way however we need to know 2 other charges the very first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Bitboy Crypto Portfolio.
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