Not really having the total of capital…Bitboy Crypto… so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that option also so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that person has actually stated they have actually made revenue 14 months in a row invest in these options since you think is the right ones for you which being stated let’s dive directly 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 most likely.
popular for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that suggests if for instance 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 likewise cover is the charges involved really crucial you understand what are the expenses of this now with any platform there will be some expense to certainly 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 zero fee sites then might not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 before you really start investing in copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs really important to comprehend these now on there’s a number of costs there isn’t charges to do with really buying and selling fine so commission charges are complimentary nevertheless there are a couple of other charges the first one is withdrawal costs so you can clearly 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 however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you might state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those options that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to remember the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps 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 two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they in fact offering 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 state give me us dollars rather you have to pay their fees now the great thing about however when you have actually 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 means the preliminary 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 charges so that’s truly excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to know two other costs the first being what’s called spread fees alright and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto.
You are offered numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this might be exactly what you require.