Not in fact having the total of capital…Bitboy Crypto T Shirt… so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you really get used to the structure of the site 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 risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row invest in these choices since you believe 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can really state i want to do precisely what that trader is doing or match that exact portfolio of options and basically each time they make a trade they buy they offer whatever they do your money will be imitated with it so that means if for instance 10 of their 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 charges included really important you understand 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 buying the selling for you there’s going to be charges included and even a few of the absolutely no fee sites then may not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts possibly 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 fees with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s start with costs actually essential to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling alright so commission charges are totally free nevertheless there are a number of other fees the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously 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 expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those choices that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or 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 two open market anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really giving 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 instead you have to pay their charges now the excellent aspect of however when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their website will not certainly limit you in any way nevertheless we need to know two other costs the first being what’s called spread costs okay and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Crypto T Shirt.
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