Not actually having the full amount of capital…Bitboy Crypto Net Worth… so with anything that you’re learning more about please do study the platform do not just assume due to the fact that 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 consider that choice too 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 danger this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so certainly 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 revenue 14 months in a row purchase these choices because you believe is the ideal ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests 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 fees included really crucial you understand what are the expenses of this now with any platform there will be some cost 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 might not charge you for really buying and selling funds or etfs specific products individual stocks.
there’ll be fees on other parts maybe 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 costs with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling okay so commission costs are totally free however there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you might state all right that’s quite 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 fees are just among those alternatives that they have a lot of platforms undoubtedly 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 once every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and say give me us dollars rather you need to pay their costs now the fantastic thing about though when you have actually converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates 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 extra fees so that’s actually good using that part of their site will not certainly restrict 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 mean on now a spread charge as i’m going to reveal you Bitboy Crypto Net Worth.
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