Not really having the total of capital…Bitboy Crypto Linkedin… so with anything that you’re finding out about please do study the platform don’t simply presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you really get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row purchase these choices since you think is the right ones for you which 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 probably.
famous for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of options 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 example 10 of their financial 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 costs included truly crucial you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost websites then may not charge you for really buying and selling etfs or funds private commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you really start investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges actually important to understand these now on there’s a number of fees there isn’t fees to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other costs the first one is withdrawal fees so you can clearly put money 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 in the future but when you wish to withdraw your money so you offer your shares you sell your commodities 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 knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those options that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends entirely how you’re investing but that is a cost to remember the second charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need 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 offering 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 instead you need to pay their charges now the excellent feature of though when you’ve transformed your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to know two other fees the very first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread charge as i’m going to reveal you Bitboy Crypto Linkedin.
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