Not really having the full amount of capital…Bitboy Crypto Youtube Channel… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you really get used to the structure of the site and then 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 particular video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they’ve made earnings 14 months in a row buy these options since you think is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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 option to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact state i want to do exactly what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really crucial 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 purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 start purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with fees truly important to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling fine so commission charges are complimentary however there are a couple of other fees the first one is withdrawal costs so you can clearly put money in now if you’re 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 however when you want to withdraw your cash so you offer 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options that they have a lot of platforms clearly are totally free 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 totally how you’re investing however that is a fee to remember the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really giving 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 state give me us dollars instead you need to pay their costs now the terrific aspect of though when you have actually transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their website will not definitely restrict you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Crypto Youtube Channel.
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