Not in fact having the full amount of capital…Bitboy Crypto Podcast… so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really 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 naturally your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has actually stated they have actually made profit 14 months in a row buy these choices because you believe 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies 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 really vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge websites then might not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts perhaps 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 show you the fees with in particular in this video the next would be things to know before you in fact begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s kick off with fees really crucial to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling alright so commission charges are complimentary nevertheless there are a couple of other charges the very 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 automatically 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 sell your products whatever you’re selling the minimum quantity 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 absolutely require to now you might state alright that’s quite expensive and i get that however 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 undoubtedly 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 6 months you know depends completely how you’re investing but that is a cost to keep in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two free trade anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 charges now the fantastic thing about though when you’ve transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial 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 actually great utilizing that part of their site will not definitely limit you in any way nevertheless we have to know 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread fee as i’m going to show you Bitboy Crypto Podcast.
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