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 don’t simply presume since i use 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 option also so you actually get used to the structure of the site and then when you’re ready to utilize your own money 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 genuine companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row invest in these options since you believe is the right ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of 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 don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some cost to certainly 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 a few of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 prior to you in fact begin investing in copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually essential to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling all right so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal costs so you can clearly put money in now if you remain 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 but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely 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 somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms undoubtedly are totally free 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 totally how you’re investing however that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists 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 provide me us dollars instead you have to pay their charges now the fantastic aspect of though when you’ve converted your money you do not need 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 preliminary 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 additional costs so that’s actually great utilizing that part of their website will not certainly limit you in any way however we have to be aware of 2 other fees the first being what’s called spread costs okay and i’m going to show you what i imply on now a spread fee as i’m going to show you Bitboy Crypto Net Worth.
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