Not in fact having the full amount of capital…Bitboy Crypto Review Reddit… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has actually stated they’ve made revenue 14 months in a row purchase these choices because you think is the best ones for you and that being stated let’s dive straight 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.
famous for it’s the choice to see what other traders are doing unbelievable we don’t 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 really say i wish to do precisely what that trader is doing or match that exact portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 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 fees involved truly critical you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no charge websites then may not charge you for really buying and selling funds or etfs private products 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 kinds of charges 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 understand prior to you really start investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually essential to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal costs so you can clearly put money in now if you’re in the uk we put our uk money.
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 money so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms clearly are totally 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 as soon as every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option to purchase 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 buying or perhaps 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 using trading 2 and 2 free trade anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they really providing 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 give me us dollars instead you have to pay their charges now the excellent feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site won’t definitely restrict you in any way nevertheless we need to know two other costs the first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you Bitboy Crypto Review Reddit.
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