Not actually having the full amount of capital…Bitboy Crypto Review… so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get used to the structure of the website and then when you’re ready to use your own money 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 genuine companies if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not just do something because that person has said they have actually made profit 14 months in a row buy these choices because you believe is the best 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 belongs to social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing extraordinary 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 implies with our money we can really 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 cash will be simulated with it so that suggests if for example 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 costs included truly crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero charge sites then may not charge you for really buying and selling etfs or funds specific commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 understand prior to you really start buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with costs really crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling fine so commission fees are totally free nevertheless there are a number of other charges the 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 immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those choices that they have a great deal 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 when every six months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase 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 great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort 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 really giving 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 state give me us dollars rather you need to pay their charges now the fantastic thing about though when you’ve transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their website will not certainly restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Bitboy Crypto Review.
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