Not in fact having the full amount of capital…Bitboy Crypto Kraken… so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you really get used to the structure of the website and then 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 investing in genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that individual has actually said they have actually made earnings 14 months in a row purchase these choices since you believe is the right ones for you and that being stated let’s dive directly 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 element that is most likely.
popular for it’s the choice to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved truly important you understand what are the costs 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 included and even a few of the no charge websites then might not charge you for actually buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts maybe 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 reveal you the charges with in particular in this video the next would be things to understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with charges actually essential to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling alright so commission fees are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you offer 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 sure that i’m only withdrawing when i absolutely require to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those options that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends totally how you’re investing but that is a fee to remember the 2nd fee that i’ve discussed is that conversion fee 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 lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they actually giving you in terms of 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 instead you need to pay their fees now the fantastic aspect of however when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform 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 excellent using that part of their site won’t certainly restrict you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto Kraken.
You are given many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be exactly what you require.