Not actually having the full amount of capital…Bitboy Crypto Amp… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact 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 genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made earnings 14 months in a row purchase these options since 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that suggests if for instance 10 of their financial 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 fees involved actually critical you understand what are the expenses of this now with any platform there will be some cost to certainly 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 no charge websites then may not charge you for actually buying and selling etfs or funds specific commodities individual 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 charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact begin purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs truly crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling all right so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 however when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great that matches 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 fee now when you use anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i expect stuck to whatever charge 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 in fact giving you in terms of 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 instead you need to pay their fees now the excellent feature of however when you’ve converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means 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 actually good using that part of their site will not certainly restrict you in any way nevertheless we have to understand two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Amp.
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