Not in fact having the total of capital…Bitboy Crypto Youtube… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you in fact get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has said they have actually made revenue 14 months in a row invest in these options because you think is the best ones for you and that being said let’s dive directly 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 aspect that is probably.
famous for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that indicates if for instance 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 likewise cover is the charges included truly critical you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost websites then might not charge you for actually buying and selling funds or etfs private products specific 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 costs 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 know before you actually start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with costs actually crucial to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling okay so commission charges are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly put money 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 in the future but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling 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 ensure that i’m only withdrawing when i absolutely require to now you may say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those choices that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really providing 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 offer me us dollars rather you need to pay their costs now the fantastic feature of however when you have actually transformed your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site will not definitely limit you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto Youtube.
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