Not actually having the total of capital…Bitboy Crypto Review… so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get utilized 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 of course your capital is at danger this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually stated they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for example 10 of their 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 included actually critical you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then may not charge you for actually buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 know before you in fact begin buying copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission fees are totally free however there are a couple of other costs the very first one is withdrawal fees so you can obviously put money in now if you remain 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 want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount 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 ensure that i’m just withdrawing when i definitely need to now you might state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that fits 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 great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two open market anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually 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 have to pay their charges now the fantastic thing about though when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 fees so that’s really great utilizing that part of their site won’t definitely restrict you in any way however we need to be aware of two other fees the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread fee as i’m going to show you Bitboy Crypto Review.
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