Not in fact having the total of capital…Bitboy Academy Reviews… so with anything that you’re learning about please do study the platform do not just assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that choice as well so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying real business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has said they have actually made profit 14 months in a row invest in these choices since you think is the best ones for you which being stated let’s dive directly in [Music] 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for example 10 of their 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 charges involved really important you understand what are the expenses of this now with any platform there will be some expense to obviously 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 no charge websites then may not charge you for actually buying and selling etfs or funds private products private 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 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 prior to you actually start investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really important to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a couple of other costs the very first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you offer your shares you sell 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 naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those alternatives that they have a lot of platforms undoubtedly are totally free 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 completely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is basic they have actually i suppose stuck to whatever charge 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 fee is there what are they really 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 say offer me us dollars instead you have to pay their fees now the great feature of though when you have actually converted your money you do not have to invest it right now 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their website won’t definitely restrict you in any way nevertheless we have to be aware of two other fees the first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Bitboy Academy Reviews.
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