Not actually having the full amount of capital…Bitboy Crypto Fees… so with anything that you’re learning about please do study the platform do not just assume since i utilize 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 also so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have 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 buy these choices because you think is the right ones for you which being said let’s dive straight in [Music] so the 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 probably.
well-known for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be simulated 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 also cover is the costs involved really vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 charge sites then may not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 before you actually begin purchasing copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees really crucial to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling all right so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those choices that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends entirely how you’re investing but that is a charge to keep in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 two and two free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there 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 bargain with them you can’t go to the bank and say offer me us dollars rather you have to pay their fees now the excellent thing about though when you have actually transformed your money 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 initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their site won’t certainly limit you in any way nevertheless we have to know 2 other fees the 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 Bitboy Crypto Fees.
You are given numerous choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to pick, then this might be exactly what you require.