Not in fact having the total of capital…Bitboy Crypto Ledger… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative too so you in fact get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has actually said they have actually made revenue 14 months in a row buy these choices because you think is the right ones for you and that being said let’s dive directly 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’s part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing amazing 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 suggests with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for instance 10 of their financial 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 really crucial you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts perhaps 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 prior to you really start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges really important to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal costs so you can undoubtedly put cash 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 in the future but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling 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 ensure that i’m just withdrawing when i absolutely need to now you may say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends completely how you’re investing however that is a fee to bear in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two free trade anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 offer me us dollars instead you have to pay their charges now the excellent thing about though when you’ve transformed your cash you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their website won’t definitely limit you in any way however we have to be aware of 2 other charges the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Ledger.
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