Not really having the total of capital…What Does Bitboy Crypto Use To Trade… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at risk and we have to bear that in mind do not just do something because that individual has said they have actually made profit 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said 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 most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they buy they offer whatever they do your cash will be simulated 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 also cover is the costs included actually critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero cost websites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you really start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs really important to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission charges are complimentary however there are a number of other charges the very first one is withdrawal charges so you can certainly 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 wish to withdraw your money so you offer 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those options that they have a lot of platforms obviously are free 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 once every six months you understand depends totally how you’re investing but that is a fee to remember the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and 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 two open market anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they actually giving you in regards to 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 state give me us dollars instead you have to pay their costs now the terrific aspect of though when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their website will not certainly limit you in any way however we need to know two other charges the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you What Does Bitboy Crypto Use To Trade.
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