Not actually having the total of capital…Bitboy Crypto Solana… so with anything that you’re finding out about please do study the platform do not just 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 money they give that choice also so you actually get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly 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 buy these choices because you think is the best ones for you which being said let’s dive straight 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 option to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash will be imitated 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 costs involved truly critical you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost websites then may not charge you for actually buying and selling funds or etfs individual 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 kinds 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 really start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with charges actually important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission costs are totally free however there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put money in now if you’re 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 offer your shares you offer your products whatever you’re offering the minimum quantity 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 make certain that i’m just withdrawing when i absolutely need to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are simply one of those options that they have a great deal of platforms clearly are totally free 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 once every six months you know depends entirely how you’re investing however that is a fee to remember the 2nd cost that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists 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 provide me us dollars rather you need to pay their fees now the terrific thing about however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money 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 good using that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other costs the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Solana.
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