Not in fact having the total of capital…Bitboy Crypto Careers… so with anything that you’re learning about please do study the platform do not simply presume due to the fact that 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 give that option too so you in fact get utilized to the structure of the website and after that 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 real business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made profit 14 months in a row purchase these options due to the fact that 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for example 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 costs included really crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs private products private stocks.
there’ll be costs on other parts perhaps 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 reveal you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually important to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling alright so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk cash.
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 money so you sell your shares you offer 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you might state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those options that they have a great deal of platforms certainly are complimentary 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 when every 6 months you know depends entirely how you’re investing however that is a charge to remember the second charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
a lot 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 charge now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need 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 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 say give me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly excellent utilizing that part of their website won’t certainly restrict you in any way however we have to know 2 other fees the very first being what’s called spread fees alright and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Careers.
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