Not really having the full amount of capital…Bitboy Crypto Youtube Deleted… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you really get utilized to the structure of the site and then when you’re ready to use 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 genuine business if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they’ve made profit 14 months in a row buy these choices due to the fact that you think is the ideal ones for you which being stated 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 alternative to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial 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 fees included really critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be costs 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 in fact start purchasing copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually important to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling okay so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can certainly put cash 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 on however when you wish to withdraw your cash so you sell your shares you offer your commodities 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 of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state okay that’s quite pricey 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 just among those options that they have a great deal of platforms clearly 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 charge to remember the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway 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 fee now when you use anybody so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever cost 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 is there 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 state offer me us dollars rather you have to pay their fees now the fantastic thing about however when you’ve converted your cash 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 means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Youtube Deleted.
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