Not really having the full amount of capital…Bitboy Binance Referral Code… so with anything that you’re learning about please do study the platform do not simply presume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you really get utilized to the structure of the website 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 danger this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they have actually made profit 14 months in a row buy these choices because you believe is the best ones for you and that being said 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 aspect that is probably.
popular for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that implies if for example 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 charges involved actually crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee sites then may not charge you for in fact buying and selling etfs or funds individual products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the costs 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 finest guidance finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually essential to comprehend these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal charges so you can obviously put money 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 in the future but when you wish to withdraw your cash so you sell your shares you offer your commodities 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 ensure that i’m just withdrawing when i absolutely require to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those choices that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a charge to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that matches 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 good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually providing 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 offer me us dollars instead you need to pay their charges now the fantastic aspect of however when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their site will not certainly limit you in any way however we have to understand two other charges the first being what’s called spread charges fine and i’m going to show you what i imply on now a spread cost as i’m going to show you Bitboy Binance Referral Code.
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