Not actually having the full amount of capital…Tj Bitboy Crypto Instagram… so with anything that you’re discovering please do study the platform do not just presume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something since that person has said they have actually made earnings 14 months in a row invest in these options since you believe is the right ones for you which being stated let’s dive directly in [Music] so the important 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other benefit 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 choices and basically each time they make a trade they buy they sell whatever they do your money will be simulated with it so that means if for instance 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 involved truly crucial you understand what are the costs of this now with any platform there will be some expense to clearly 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 charge websites then may not charge you for really buying and selling funds or etfs private products private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 understand before you in fact 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 financier so let’s begin with costs really essential to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling okay so commission fees are free nevertheless there are a couple of other costs the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money 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 sure that i’m only withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just one of those options that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a charge to bear in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway 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 charge now when you utilize anyone so if you’re utilizing 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 kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually giving you in terms of 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 need to pay their fees now the fantastic thing about though when you have actually transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests 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 costs so that’s really excellent utilizing that part of their website will not definitely limit you in any way nevertheless we have to know 2 other charges the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Tj Bitboy Crypto Instagram.
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