Not actually having the total of capital…Bitboy Crypto Net Worth… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row invest in these choices due to the fact that you believe is the best 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’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 unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of options and basically every time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates 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 important you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost sites then may not charge you for actually buying and selling funds or etfs private commodities individual 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 kinds of costs 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 guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually crucial to comprehend these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission charges are totally free however there are a couple of other charges the first one is withdrawal costs so you can undoubtedly put cash 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 later however when you wish to withdraw your cash so you offer your shares you offer 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 make sure that i’m just withdrawing when i absolutely require to now you may state fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion cost now with you’re handling 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 anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really giving you in terms of 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 say provide me us dollars instead you have to pay their fees now the terrific aspect of though when you have actually converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 extra costs so that’s actually excellent using that part of their site won’t certainly restrict you in any way nevertheless we have to know two other charges the very first being what’s called spread charges okay and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto Net Worth.
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