Not in fact having the full amount of capital…Bitboy Crypto Face… so with anything that you’re finding out about please do study the platform don’t simply assume since i utilize 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 website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made revenue 14 months in a row buy these choices because you believe is the best ones for you and that being said let’s dive directly in [Music] so 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 element that is probably.
famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that indicates if for example 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 costs involved actually vital you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine business 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 fee sites then may not charge you for actually buying and selling etfs or funds specific products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 prior to you in fact start purchasing copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission charges are totally free however there are a couple of other charges the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell your shares you offer your products 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 of course understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among 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 maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a charge to remember the 2nd cost 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 fine that suits me.
a great deal of my stocks are us dollar stocks anyhow 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 cost now when you use anyone so if you’re using trading 2 and two free trade anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact providing you in regards to 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 rather you have to pay their charges now the excellent aspect of though when you have actually transformed your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Crypto Face.
You are given lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this might be exactly what you need.