Not actually having the total of capital…Bitboy Crypto Arrested… so with anything that you’re learning more about please do study the platform don’t just presume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has said they have actually made earnings 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which being said 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 element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we don’t normally 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 in fact state i wish to do precisely 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 suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved truly vital you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no fee sites then may not charge you for in fact buying and selling etfs or funds individual products 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 reveal you the costs with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with costs really important to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can undoubtedly 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 in the future however when you want to withdraw your cash so you offer 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 of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state alright 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 obviously 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 completely how you’re investing but that is a cost to bear in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s fine that fits 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 excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and two open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee 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 offer me us dollars instead you need to pay their costs now the fantastic feature of though when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means 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 costs so that’s actually good utilizing that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of two other costs the very first being what’s called spread fees fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Crypto Arrested.
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