Not actually having the total of capital…Bitboy Crypto Fox News… so with anything that you’re learning more about please do study the platform do not simply assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row purchase these choices because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] so the 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 element that is most likely.
famous for it’s the option to see what other traders are doing incredible 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 implies with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio remains 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 truly critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 zero fee sites then may not charge you for really buying and selling etfs or funds private commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 really start buying copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees actually important to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer your shares you sell your products whatever you’re offering the minimum amount 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 certain that i’m just withdrawing when i definitely require to now you might say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a great deal 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 perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a fee to remember the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they really offering 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 have to pay their costs now the fantastic aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their site won’t certainly limit you in any way however we have to be aware of two other fees the very first being what’s called spread charges alright and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Crypto Fox News.
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