Not actually having the full amount of capital…Bitboy Academy Reviews… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative also so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in real companies if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made revenue 14 months in a row buy these options because you think is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for example 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 fees involved really vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no charge sites then may not charge you for really buying and selling etfs or funds specific products specific 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 sort of costs 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 know prior to you really begin purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission fees are totally free however there are a couple of other fees the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell 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 five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing but that is a charge to bear in mind the 2nd charge 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 which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually giving you in terms of 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 instead you need to pay their fees now the great thing about however when you have actually converted your cash you do not need 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 purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great using that part of their website won’t certainly limit you in any way however we have to understand two other costs the very first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Bitboy Academy Reviews.
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