Not actually having the full amount of capital…Bitboy Crypto Vs Pomp… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row buy these options because you think is the ideal ones for you and that being stated 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.
well-known for it’s the choice 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 want 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 implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really critical you understand what are the expenses of this now with any platform there will be some cost to certainly 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 absolutely no fee sites then might not charge you for actually buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with charges actually important to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling all right so commission charges are complimentary nevertheless there are a number of other fees the very first one is withdrawal charges so you can obviously put money in now if you’re 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 money so you offer your shares you offer your products whatever you’re offering the minimum amount 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 definitely need to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those choices that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a cost to keep in mind the second cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 use anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they actually offering 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 say provide me us dollars rather you have to pay their costs now the fantastic aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way however we need to be aware of two other costs the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Bitboy Crypto Vs Pomp.
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