Not actually having the total of capital…Bitboy Crypto Studio… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you in fact get utilized to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row invest in these options since you think is the best ones for you and that being said let’s dive straight 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.
popular for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they sell whatever they do your cash will be simulated 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 cash in so we’re going to also cover is the fees involved actually critical you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost sites then might not charge you for really buying and selling etfs or funds individual commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 understand prior to you really begin buying copy trading or copy portfolios and lastly 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 begin with costs actually crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling fine so commission charges are totally free nevertheless there are a couple of other costs the first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you offer your commodities 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those choices that they have a lot of platforms undoubtedly are 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 as soon as every six months you know depends entirely how you’re investing however that is a fee to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 cost now when you use anybody so if you’re utilizing trading two and 2 free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually offering you in terms of 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 costs now the terrific aspect of however when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really good using that part of their website will not definitely limit you in any way however we have to be aware of two other fees the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Bitboy Crypto Studio.
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