Not really having the full amount of capital…Bitboy Crypto Reddit… so with anything that you’re finding out about please do study the platform do not simply assume because i use 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 then when you’re ready to use 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 real business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has stated they have actually made revenue 14 months in a row buy these options because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the option to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly these are genuine 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 no charge websites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission fees are totally free however there are a number of other costs the very first one is withdrawal fees so you can undoubtedly put cash 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 later on however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those alternatives that they have a lot of platforms clearly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there 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 rather you need to pay their charges now the fantastic aspect of however when you have actually converted your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their site will not definitely limit you in any way however we need to know two other fees the very first being what’s called spread costs all right and i’m going to show you what i indicate on now a spread charge as i’m going to show you Bitboy Crypto Reddit.
You are offered numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this might be exactly what you need.