Not actually having the total of capital…Bitboy Crypto Quant… so with anything that you’re learning more about please do study the platform don’t just assume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you really 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 obviously your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually said they have actually made earnings 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being said let’s dive directly in [Music] The 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 alternative to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do precisely what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for instance 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 fees included actually important you understand what are the costs 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 a few of the zero charge websites then may not charge you for really buying and selling funds or etfs individual commodities individual 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 costs with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with fees really crucial to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling fine so commission charges are free nevertheless there are a number of other fees the first one is withdrawal charges so you can undoubtedly 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 on however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering 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 might state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those alternatives 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 mainly it can be maybe even once a year once every six months you understand depends totally how you’re investing however that is a fee to bear in mind the second charge that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge 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 bargain with them you can’t go to the bank and say provide me us dollars rather you have to pay their fees now the terrific thing about though when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the initial 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 additional charges so that’s actually great utilizing that part of their site will not certainly limit you in any way nevertheless we need to understand two other charges the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Quant.
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