Not actually having the total of capital…Bitboy Twitter Crypto… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row purchase these choices because you think is the right 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies 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 zero cost websites then may not charge you for in fact buying and selling etfs or funds private products private 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 type 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 understand prior to you really begin purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with charges really crucial 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 charges are free however there are a couple of other fees the very first one is withdrawal charges so you can clearly put money in now if you remain 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 however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely 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 fees someplace and withdrawal charges are just among those options that they have a great deal of platforms certainly are complimentary 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 six months you understand depends totally how you’re investing but that is a cost to keep in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact 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 say offer me us dollars rather you have to pay their charges now the fantastic feature of though when you’ve transformed your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their site won’t certainly restrict you in any way nevertheless we need to know two other fees the very first being what’s called spread fees fine and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Twitter Crypto.
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