Not really having the total of capital…Bitboy Crypto Portfolio… so with anything that you’re discovering please do study the platform don’t just assume because 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 give that alternative too so you really get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has said they’ve made revenue 14 months in a row buy these choices because you think is the best ones for you and that being stated 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 aspect that is probably.
popular for it’s the alternative to see what other traders are doing amazing we do not 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 specific portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included truly important you understand what are the expenses 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 involved and even a few of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees 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 show you the charges 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 lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really essential to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary nevertheless there are a couple of other charges the very first one is withdrawal charges so you can clearly put cash in now if you’re 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 however when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a cost to remember the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy 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 or perhaps 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 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact giving you in terms of 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 costs now the great aspect of though 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 buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent using that part of their website will not certainly limit you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Bitboy Crypto Portfolio.
Overall, traders who utilize EToro in Trading 212 will discover it to be among the best and most convenient platforms to utilize. You are offered many choices with this software and you can configure it nevertheless you see fit. This makes it very versatile and user friendly. Plus, you get trading signals provided right to you, which is a big plus. So, if you’re seeking to begin trading the forex market however don’t know which system to select, then this might be exactly what you require.