Not actually having the full amount of capital…Bitboy Crypto Arbitrage… so with anything that you’re finding out about please do study the platform do not simply presume because i utilize 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 give that choice too so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something because that person has actually said they have actually made earnings 14 months in a row invest in these choices because you believe is the ideal ones for you which being stated let’s dive straight 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 belongs to social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing amazing 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 indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for instance 10 of their investment portfolio remains 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 really 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 buying the selling for you there’s going to be charges involved and even some of the no charge sites then might not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with fees actually important to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission costs are free however there are a couple of other fees the very first one is withdrawal costs so you can undoubtedly 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 in the future however when you wish 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state fine that’s rather expensive 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 simply one of those choices that they have a lot of platforms obviously 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 as soon as every 6 months you understand depends completely how you’re investing however that is a charge to remember the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want 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 bargain with them you can’t go to the bank and say provide me us dollars rather you need to pay their charges now the terrific aspect of though when you have actually transformed your money you do not have to invest it right away that dollar worth 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 occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their site will not certainly restrict you in any way however we need to understand two other costs the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Arbitrage.
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