Not actually having the total of capital…Bitboy Book… so with anything that you’re learning more about please do study the platform don’t just assume because i utilize 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 utilized to the structure of the site 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 choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they’ve made earnings 14 months in a row purchase these choices since you believe is the right ones for you and that being said 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 belongs to social trading which is one aspect that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 10 of their 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 charges involved truly critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then may not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with fees really essential to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling all right so commission charges are free however there are a couple of other charges the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you sell 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 of course understanding that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply one of those alternatives that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a charge to keep in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they actually providing 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 offer me us dollars instead you need to pay their fees now the great feature of though when you’ve transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site won’t definitely restrict you in any way nevertheless we need to understand two other charges the very first being what’s called spread fees fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you Bitboy Book.
You are offered numerous options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this may be exactly what you require.