Not actually having the full amount of capital…Justin Bitboy Crypto… so with anything that you’re discovering please do study the platform do not just presume since i use 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 option too so you in fact get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has actually stated they have actually made revenue 14 months in a row buy these options because you believe is the best ones for you which 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.
famous for it’s the option 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 wish to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests if for instance 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 likewise cover is the fees involved truly critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for really buying and selling etfs or funds specific commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees 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 fine so commission charges are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount 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 might state alright 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 someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway 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 fee now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 offer me us dollars instead you need to pay their fees now the terrific feature of however when you’ve converted 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 means the preliminary 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 charges so that’s truly good utilizing that part of their website won’t certainly restrict you in any way however we need to understand 2 other charges the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Justin Bitboy Crypto.
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