Bitboy Crypto Business Insider 2023

Not in fact having the total of capital…Bitboy Crypto Business Insider… so with anything that you’re learning more about please do study the platform do not just presume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you in fact get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something since that individual has said they’ve made revenue 14 months in a row buy these options since you believe is the right 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 comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.

famous for it’s the option 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 and so that means with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included actually important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine 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 zero charge sites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.

there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 before you really start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with costs really crucial to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal costs so you can certainly put cash in now if you remain 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 wish to withdraw your cash so you sell your shares you sell your commodities 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 ensure that i’m only withdrawing when i definitely need to now you may say fine that’s quite 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 fees are just one of those choices that they have a lot of platforms clearly 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 once every 6 months you understand depends completely how you’re investing but that is a cost to remember the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches 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 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact 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 say offer me us dollars instead you need to pay their charges now the fantastic aspect of however when you have actually transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their website won’t definitely limit you in any way however we need to know two other costs the very first being what’s called spread fees fine and i’m going to show you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Business Insider.

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