Not in fact having the total of capital…Bitboy Crypto Today… so with anything that you’re discovering please do study the platform don’t just assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you really get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something since that person has said they’ve made earnings 14 months in a row purchase these options due to the fact that you believe is the best ones for you which being said let’s dive straight in [Music] 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are real business 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 in fact buying and selling etfs or funds private products private stocks.
there’ll be charges 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 costs with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with costs really crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling all right so commission fees are totally free however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money in now if you remain 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 later however when you want to withdraw your money 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those options that they have a great deal of platforms obviously are 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 as soon as every six months you understand depends completely how you’re investing but that is a fee to bear in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars only 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 purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee 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 state provide me us dollars instead you have to pay their fees now the fantastic aspect of however when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of two other fees the very first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Crypto Today.
You are offered lots of choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this might be exactly what you require.