Not actually having the full amount of capital…Why Did Bitboy Crypto Get Banned… so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option also so you really get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being stated let’s dive straight 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 becomes part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can actually state i want to do exactly what that trader is doing or match that specific portfolio of options and essentially every time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee sites then might not charge you for actually buying and selling funds or etfs individual commodities individual stocks.
there’ll be costs on other parts perhaps 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 before you really start investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges truly essential to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a couple of other costs the first one is withdrawal costs 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 later but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends completely how you’re investing however that is a charge to keep in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great 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 use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge 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 state provide me us dollars instead you need to pay their costs now the excellent thing about though when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great utilizing that part of their site won’t certainly restrict you in any way however we need to understand 2 other fees the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread fee as i’m going to show you Why Did Bitboy Crypto Get Banned.
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