Not really having the full amount of capital…Bitboy Crypto Omi… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you really get utilized to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you pick to in this specific video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that person has actually stated they’ve made earnings 14 months in a row invest in these options since you think is the best ones for you which being said let’s dive directly 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 belongs to social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies 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 charges involved actually crucial you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no charge sites then may not charge you for actually buying and selling funds or etfs individual commodities 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 sort of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know prior to you really begin buying copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with charges truly essential to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission fees are free however there are a number of other fees the first one is withdrawal fees so you can clearly put cash in now if you’re 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 wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering 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 make sure that i’m only withdrawing when i absolutely need to now you might say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re handling 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 anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 state offer me us dollars rather you have to pay their costs now the terrific thing about 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 money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really good using that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other fees the very first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Bitboy Crypto Omi.
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