Not actually having the full amount of capital…Bitboy Crypto Website… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get used 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 danger this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually said they’ve made revenue 14 months in a row invest in these options due to the fact that you think is the best ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing amazing we don’t 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 cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included truly critical you understand what are the expenses of this now with any platform there will be some cost to clearly 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 absolutely no fee sites then might not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 understand before you actually start purchasing copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees really essential to understand these now on there’s a number 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 costs the first one is withdrawal costs so you can clearly put cash 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 however when you want to withdraw your money so you offer your shares you sell 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those alternatives that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a charge to remember the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent 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 understand if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering 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 instead you have to pay their fees now the terrific feature of however when you’ve converted your money you do not need to invest it immediately that dollar worth can being 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 great utilizing that part of their website won’t definitely limit you in any way however we have to be aware of two other costs the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Bitboy Crypto Website.
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