Not in fact having the full amount of capital…Bitboy Crypto Ada… so with anything that you’re learning more about please do study the platform do not just assume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact get used to the structure of the site and then 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 danger this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row purchase these choices since you believe 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.
popular for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests 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 also cover is the fees included really vital you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real 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 charge sites then might not charge you for in fact buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and finally some best 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 kick off with fees really important to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission fees are free however there are a couple of other charges the very first one is withdrawal fees so you can obviously put money in now if you’re 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 wish to withdraw your cash so you offer 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 five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those options that they have a great deal of platforms certainly are complimentary 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 however that is a charge to bear in mind the 2nd charge 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 buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually 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 fantastic feature of however when you have actually converted your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies 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 extra fees so that’s really excellent using that part of their site will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Ada.
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