Not in fact having the total of capital…Bitboy Crypto Wife… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you actually get utilized to the structure of the website and then 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 genuine business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row purchase these choices since you think is the ideal ones for you and that being said let’s dive straight 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.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really important you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost websites then might not charge you for in fact buying and selling etfs or funds specific products 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 show you the charges with in particular in this video the next would be things to understand prior to you in fact start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with costs really important to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling all right so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing but that is a cost to keep in mind 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 fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 cost now when you use anybody so if you’re utilizing trading 2 and two free trade anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really giving 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 rather you need to pay their charges now the great thing about though when you have actually transformed your cash 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 suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their website will not certainly limit you in any way nevertheless we need to know 2 other costs the very first being what’s called spread fees alright and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Crypto Wife.
You are offered many alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this might be precisely what you need.