Not in fact having the total of capital…Bitboy Crypto Wsop… so with anything that you’re discovering please do study the platform do not simply presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something since that person has said they’ve made profit 14 months in a row buy these choices since you think is the best ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for instance 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 crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge websites then may not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 actually start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission charges are totally free however there are a couple of other costs the 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 automatically 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 commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends entirely how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i suppose stuck with 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 charge exists what are they really offering 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 state offer me us dollars instead you have to pay their charges now the terrific aspect of though when you’ve transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good utilizing that part of their website will not certainly limit you in any way nevertheless we need to be aware of 2 other costs the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto Wsop.
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