Not really having the total of capital…Bitboy Crypto Sandbox… so with anything that you’re learning more about please do study the platform do not just assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that option also so you actually get utilized to the structure of the site and after that when you’re ready to use your own cash 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 companies if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something since that person has said they’ve made revenue 14 months in a row buy these options because you believe is the ideal ones for you and that being said 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 most likely.
famous for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates 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 charges involved actually critical you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies 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 absolutely no cost websites then might not charge you for really buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts maybe 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 fees with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and finally some best advice best 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 fees truly crucial to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission charges are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously 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 but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those choices that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent 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 two open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion fee 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 give me us dollars rather you have to pay their costs now the excellent feature of though when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent utilizing that part of their website will not certainly limit you in any way nevertheless we have to know 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Bitboy Crypto Sandbox.
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