Not in fact having the total of capital…Is Bitboy Crypto Legit… so with anything that you’re discovering please do study the platform do not just presume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you in fact get used 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 obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually said they’ve made earnings 14 months in a row buy these choices since you believe is the right ones for you and that being stated let’s dive straight 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.
well-known for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for instance 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 also cover is the fees involved actually crucial you understand 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 purchasing the selling for you there’s going to be charges involved and even some of the zero charge websites then might not charge you for in fact 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 fees with in particular in this video the next would be things to understand prior to you actually start buying copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges truly important to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling okay so commission charges are free nevertheless there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell 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 of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an option 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 and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two free trade anybody this is standard they have i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they actually offering 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 offer me us dollars rather you need to pay their fees now the fantastic aspect of however when you have actually converted your money you do not need to invest it immediately that dollar value 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 happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to know 2 other costs the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread cost as i’m going to show you Is Bitboy Crypto Legit.
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